Finders will be entitled to a commission consisting of (i) a payment in cash equal to 6.0% of the gross proceeds received from the sale of the Units to a subscriber identified by such finder and (ii) that number of warrants ("Finder's Warrants") which is equal to 6.0% of the gross proceeds from the sale of Units to a subscriber identified by such finder divided by the exercise price of a Finder's Warrant. The Finder's Warrants will be exercisable on the same terms as the Warrants.
Net proceeds of the Private Placement will be used for working capital and ongoing operations to identify opportunities for the Company.
The Private Placement is expected to close on or about
This press release includes "forward-looking information" including statements regarding the Private Placement that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Statements regarding future fund raising and capital expenditures are subject to all of the risks and uncertainties normally incident with the raising of capital including, but are not limited to, financing risks and risk of regulatory change. Investors are cautioned that any such statements are not guarantees of future events and that actual events or developments may differ materially from those projected in the forward-looking information. Such forward-looking information represents management's best judgment based on information currently available. The Company does not assume the obligation to update any forward-looking statement, except as required by applicable law.
For more information on the Company and the risk factors inherent in its business, investors should review the Company's Annual Information Form at www.sedar.com.
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