ENP Newswire -
Release date- 18062014 -
Each Non-Flow-Through Unit will consist of one common share of the Company and one-half of one warrant to purchase common shares of the Company.
Each Warrant will entitle the holder thereof to purchase one common share of the Company at an exercise price of
The gross proceeds from the sale of the Flow-Through Units will be used to incur 'Canadian exploration expenses' (as such term is defined in the Tax Act), which will also qualify as flow-through mining expenditures' (as defined in the Tax Act provided the amendments to the term as contained in the
In connection with the Offering, certain arm's length parties may receive (i) a cash fee finder's payment equal to up to 7% of the gross proceeds of the Non-Flow-Through Units and Flow-Through Units that are sold to subscribers introduced by such parties, and (ii) warrants (the 'Finder's Warrants') to purchase that number of common shares of the Company equal to up to 7% of the Non-Flow-Through Units and Flow-Through Units that are sold to subscribers introduced by such parties, with the Finder's Warrants having the same terms as the Warrants.
The finder's fee payment and the Finder's Warrants are subject to the approval of, and will be issued in accordance with, the rules of the
Closing of the Offering is anticipated to occur on or before
The securities to be issued under the Offering will be subject to a hold period of four months and a day from the closing date of the Offering in accordance with the rules and policies of the TSX-V and applicable Canadian securities laws.
For further information and presentation material, please review the
Certain statements in this press release contain information that may constitute forward-looking information under applicable Canadian securities legislation, including but not limited to, information relating to terms, the completion of the Offering, participation by Pacific Road in the Offering, and the use of proceeds. These forward-looking statements represent management's best judgment based on current facts and assumptions that management considers reasonable.
The Company makes no representation that reasonable business people in possession of the same information would reach the same conclusions. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.
These risks and uncertainties include, but are not limited to, the strength of the global economy, fluctuations in the price of gold and operational, funding and liquidity risks. Readers should not place undue reliance on forward-looking statements. More information about risks and uncertainties affecting the Company and its business is available in the Company's filings which are posted on SEDAR at www.sedar.com.
The Company does not intend, and does not assume any obligation, to update these forward-looking statements or to update the reasons why actual results could differ from such information unless required by law.
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