Each unit consists of one common share ('Common Share') and one-half non-transferable common share purchase warrant ('Warrant'). Each full Warrant entitles the holder to acquire one additional Common Shares of the Company at a price of
The net proceeds of the private placement will be used for general corporate purposes, including costs related to the Company's business combination with Anio Oil & Gas Sh. a. ('Anio'). The Company is continuing to pursue the closure of the Anio acquisition.Gross funds raised from the first, second and third tranches of the private placement equal
All securities issued in the private placement are subject to a hold period of four months and one day from the date of issuance, in accordance with applicable securities laws.
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Completion of the business combination transaction with Anio is subject to a number of conditions, including but not limited to,
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Forward-Looking Statements
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. Such statements include the terms of the proposed private placement (including proposed use of proceeds) and the terms of the proposed business combination with Anio. These statements reflect management's current estimates, beliefs, intentions and expectations and are not guarantees of future performance. Such statements are based upon certain assumptions which Letho's management believes to be reasonable, including assumptions relating to the availability of funds to complete the private placement, the nature of Anio's assets and the expected conditions to closing. Letho cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Letho's control. Such factors include, among other things: risks and uncertainties relating to Letho's ability to complete the proposed private placement and satisfying the conditions to closing of the business combination transaction, including the completion of satisfactory due diligence. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, Letho undertakes no obligation to publicly update or revise forward-looking information.
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