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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (2973)	10/23/2013 3:25:34 PM
From: Goose94	Respond to of 203330

NFK-V new 52 week high, 26 cents on news. Africa Hydrocarbons Inc. has entered into an engagement agreement with Canaccord Genuity Corp. in connection with a bought-deal private placement offering of 6.9 million units of the company, at a price of 18 cents per unit, for aggregate gross proceeds of $1,242,000 (the bought-deal offering). In addition, the company has granted the underwriter the option to sell up to an additional 5.6 million units on a commercially reasonable efforts basis on the same terms as the bought-deal offering for additional gross proceeds of up to $1,008,000. Assuming the full exercise of the underwriter's option, total gross proceeds of both the bought-deal offering and the best-efforts offering will be up to $2.25-million. Each unit will be composed of one common share and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to acquire one common share of the company at a price of 30 cents per common share for a period of 12 months after the closing of the offering. The company has agreed to pay the agent a fee of 7 per cent of the aggregate gross proceeds of the offering. In addition, the underwriter will be issued on the closing of the offering broker warrants entitling the underwriter to subscribe for common shares equal to 7 per cent of the aggregate number of units issued under the offering at an exercise price of 30 cents per common share. The broker warrants will expire 18 months after the closing of the offering. The offering shall be sold in Ontario, Alberta, British Columbia and such other jurisdictions of Canada as Canaccord Genuity and the corporation may agree in accordance with applicable securities laws and regulations, and under applicable securities exemptions from prospectus requirements. The offering will also be sold in the United States on a private-placement basis to accredited investors pursuant to Rule 506 of Regulation D or qualified institutional buyers pursuant to Rule 144A and other eligible foreign jurisdictions in accordance with applicable securities laws and regulations such that no prospectus, registration statement or similar document is required to be filed in any jurisdiction outside of Canada. Proceeds from the offering will be used for general corporate purposes. We seek Safe Harbor.