Tearlach 15.17-million-share private placement
2022-11-21 21:27 ET – Private Placement
The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced on Oct. 28, 2022.
Number of shares: 15.17 million shares
Purchase price: 50 cents per share
Warrants: 7,585,000 share purchase warrants to purchase 7,585,000 shares
Warrant exercise price: 90 cents for a two-year period, subject to an acceleration clause
Number of placees: 122 placees
Total pro group involvement: 1.12 million (nine placees)
Finder’s fee: $100,450 cash and 200,900 warrants
Finder’s warrant terms: Each finder’s warrant is non-transferable and entitles the holder to purchase one common share at 90 cents for a period of two years from the date of issuance.
The company issued news releases on Nov. 8, 2022, and Nov. 18, 2022, confirming the closing of the first tranche and the second and final tranche of the private placement. Note that in certain circumstances, the exchange may later extend the expiry date of the warrants if they are less than the maximum permitted term.
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