News Column

MANTRA VENTURE GROUP LTD. FILES (8-K) Disclosing Unregistered Sale of Equity Securities

April 30, 2014

Item 3.02 Unregistered Sales of Equity Securities

Effective April 10, 2014, we entered into private placement agreements with 14 people. Pursuant to the agreements, we agreed to the issuance of an aggregate of 4,075,000 units at a purchase price of USD$0.20 per unit, for total proceeds of $815,000. Each unit consists of one common share and one whole common share purchase warrant. Each whole common share purchase warrant is exercisable into one share at a price of USD$0.37 per share for a period of the 60 months from the date of closing or five business days after our company's common stock closes at a price at or above $2.50 per share for seven consecutive trading days on the FINRA Over-the-Counter Bulletin Board.

As of April 10, 2014, we issued 4,075,000 units of the private placements to 14 pursuant to Rule 506 of Regulation D of the Securities Act of 1933, as amended, on the basis that they represented to our company that they were an "accredited investor" as such term is defined in Rule 501(a) of Regulation D.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: Edgar Glimpses

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters