Each Unit consists of one common share (each, a 'Share') and one transferable Share purchase warrant (each a 'Warrant'). Each Warrant entitles the holder thereof to purchase one additional Share of the Corporation at a price of
In connection with the Offering, the Corporation has paid cash finder's fees of
All securities issued are subject to a statutory four month and one day hold period that expires on
None of the securities issued in connection with the Offering will be registered under the United States Securities Act of 1933, as amended (the '1933 Act'), and none of them will be offered or sold in
One insider (the 'Insider') of the Corporation participated in the Offering and has purchased either directly or indirectly an aggregate of 400,000 Units for gross proceeds of
The Corporation did not file a material change report more than 21 days before the expected closing of the Offering as the details of the transaction therein by related parties of the Company were not settled until shortly prior to closing of the Offering and the Company wished to close on an expedited basis for sound business reasons.
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Forward-Looking Information
This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is characterized by words such as 'plan', 'expect', 'project', 'intend', 'believe', 'anticipate', 'estimate' and other similar words, or statements that certain events or conditions 'may' or 'will' occur. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, and includes those risks set out in the Corporation's management's discussion and analysis as filed under the Corporation's profile at www.sedar.com. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including that all necessary governmental and regulatory approvals will be received as and when expected. Although the Corporation believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Corporation disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.
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