The Company issued a total of 1,900,000 common shares of the Company at a price of
As previously disclosed, an insider of the Company subscribed for 500,000 common shares in the Financing. Such participation is considered to be a 'related party transaction' as defined under Multilateral Instrument 61-101 ('MI 61-101'). The Company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, as the fair market value of the participation in the Financing by insiders does not exceed 25% of the market capitalization of the Company, as determined in accordance with MI 61-101.
Contact:
Tel: 403-383-7913
The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the '
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