ENP Newswire -
Release date- 17072014 -
The parties are currently negotiating a definitive agreement and the Company expects to complete the acquisition this summer. The acquisition is subject to regulatory approval, including that of the Canadian Securities Exchange ('CSE').
The Company is also pleased to announce that Mr.
As an RCMP liaison officer and first secretary at the
In addition to the proposed acquisition of GrowPros, the Company continues to seek opportunities to diversify the scope of its business. As previously announced, the Company's ability to continue operations is dependent upon successfully raising the necessary financing to complete its business plan and, in this regard, the Company is pleased to announce that it has engaged
Each Unit will be comprised of one common share (a 'Share') and one common share purchase warrant (a 'Warrant') entitling the holder thereof to acquire one additional Share at a price of
In connection with the private placement, the Company has agreed to pay to the Agent a cash commission equal to 10.0% of the gross proceeds raised under the private placement and issue to the Agent non-transferable options (the 'Agent's Options'), at an exercise price of
The Units underlying the Agent's Options are identical to the Units being issued under the private placement. The Company and the Agent will use their commercially reasonable efforts to complete the private placement as soon as possible. The private placement is subject to regulatory approval, including that of the CSE. The net proceeds from the private placement are expected to be used (i) for general working capital purposes, and (ii) to fund the Company's planned diversification strategy, including the acquisition of GrowPros.
Interim President & CEO
Tel: (613) 241-2332
Some statements in this release may contain forward-looking information. All statements, other than of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding potential acquisitions and financings) are forward-looking statements.
Forward-looking statements are generally identifiable by use of the words 'may', 'will', 'should', 'continue', 'expect', 'anticipate', 'estimate', 'believe', 'intend', 'plan' or 'project' or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements.
Factors that could cause actual results or events to differ materially from current expectations include, among other things, without limitation, the possibility that future exploration results will not be consistent with the Company's expectations, changes in world gold markets or markets for other commodities, inability of the Company to achieve its diversification strategy (including, without limitation, the proposed acquisition of GrowPros); failure to obtain sufficient financing, and other risks disclosed in the Company's public disclosure record on file with the relevant securities regulatory authorities.
Any forward-looking statement speaks only as of the date on which it is made and except as may be required by applicable securities laws; the Company disclaims any intent or obligation to update any forward-looking statement.
Most Popular Stories
- Criminal Investigation Opened Into James Foley's Death
- Is Diversity in the Eye of the Beholder?
- Apple Stock Bounces Back Big Time
- Rocket Explodes During U.S. Test Flight
- Koch Brothers Took Genes, Money in Different Directions
- 'Mythbusters' Build Team Gets the Boot
- Investors Betting on ECB Stimulus Measures
- Jennifer Lopez Would Marry Again
- Florida Judge Rules in Favor of GOP Voter Map
- Hackers Get Homeland Security Employee Records