To: Goose94 who wrote (3964 ) 1/14/2014 5:48:55 PM From: Goose94 Read Replies (3) | Respond to 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.
