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Ceylon Graphite private placement

May 26, 2022

2022-05-25 16:09 ET – Private Placement

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced April 6, 2022, and April 7, 2022.

Number of shares: 21,875,000 shares

Purchase price: 16 cents per share

Warrants: 21,875,000 share purchase warrants to purchase 21,875,000 shares

Warrant exercise price: 25 cents for a three-year period

Number of placees: 27 placees

Finders’ fees: PowerOne Capital Markets Ltd. — $150,300 and 984,375 broker warrants; Primary Capital Inc. — $100,200 and 656,250 broker warrants; BMO Nesbitt Burns — $12,000

Each non-transferable broker warrant is exercisable into one common share of the company at a price of 16 cents per share for a three-year period.

Pursuant to corporate finance Policy 4.1, Section 1.9(e), the company issued a news release on May 13, 2022, announcing the closing of the private placement and setting out the expiry dates of the hold period(s). 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.

https://www.ceylongraphite.com/