The company has negotiated a brokered private placement with Union
Securities in the amount of $1,000,000. These funds will be raised by the
company issuing a total of
2,500,000 non-flow-through units at 20 cents per unit and a total of
1 share @ $0.20, 1 warrent {1 share @ $0.20 @ 1yr}
2,500,000 flow-through units at 20 cents per unit.
1 share @$0.20 1 warrent {1 ft share @$0.20 1 warrent{1 share @ $0.20 @ 1yr}}
The company has agreed to pay Union Securities a 5 per cent commission and has further agreed to issue Class B warrants to purchase up to 300,000 shares at 20 cents for one year.
In addition, the company has granted 1,114,024 incentive stock options to certain of its directors, officer and employees pursuant to the company's stock option plan. These options are exercisable for 10 years at 32 cents
5,000,000 at $0.20 for 1yr, 2,5000,000 year 2
2,500,000 at $0.20, 2,500,000 @$0.20, and right for 2,500,000.
300,000
1,114,024
13,914,024 most at $0.20? What did I do wrong? |
