SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : Dino's Bar & Grill
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Goose94 who wrote (3964)1/14/2014 5:48:55 PM
From: Goose94Read Replies (3) of 202023
 
Petrolympic (PCQ-V) Jan 14, '14 has completed the first tranche of a non-brokered private placement. The company issued 6.3 million units of the corporation at a price of 15 cents per unit for aggregate gross proceeds of $945,000. Each unit consists of one common share of the corporation and one common share purchase warrant. Each warrant entitles the holder to purchase one common share at a price of 25 cents per warrant share for a period of 18 months from the date of issuance. In the event that the common shares of the company trade at or above 35 cents for a period of 30 consecutive trading days at any time prior to the expiry time, the company may accelerate the expiry time by giving at least 30 days prior written notice to the warrantholders, and, in such a case, the warrants shall expire on the 30th day after the date on which such notice is delivered by the company or such later expiry date is set out in the notice.Compensation options were also issued to certain finders. The finders received 504,000 compensation options, each compensation option being exercisable into one unit within 18 months of closing, subject to the acceleration clause, at an exercise price of 15 cents.

The securities sold under the private placement will be subject to restrictions on resale for a period of four months and one day from the date of closing.

Proceeds of the private placement will be used to finance exploration of the company's properties and for general corporate purposes.

The issuance of the units and listing of the unit shares and the warrant shares pursuant to the private placement are subject to TSX Venture Exchange approval.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News