Margaret Lake Diamonds Inc. announced that it has received CAD 1.951957 million in funding from Triplet Management, 1113300 Bc Ltd, Canary Fund
Finder's fees of 37,333 non-transferable flow-through share purchase warrants and 257,142 non-transferrable non-flow-through share purchase warrants were issued to Research Capital Company in connection with the Second Tranche. Each flow-through Finder's Warrant entitles the holder to purchase one flow-through share at a price of CAD 0.30 and each non flow-through Finder's Warrant entitles the holder to purchase one Common Share at a price of CAD 0.28, both for a period of 24 months after the date of issuance.
The TSX Venture Exchange has accepted for filing documentation with respect to the transaction. The transaction included participation from 40 placees. The transaction included participation of insiders such as George Kovalyov for 85,714 shares, Joel Warawa for 55,000 shares, retuning investor Yari Nieken of 1113300 B.C. Ltd. for 1,928,571 and Larry Timlick of Triplet Management for 150,000. The company paid finder's fee of CAD 16,413.60 in cash and 114,480 finder's warrants payable to Canaccord Genuity Group Inc. for 257,142 finder's warrants and Research Capital Corporation for 37,333 finder's warrants. Each warrants exercisable into one common share at CAD 0.28 for a two-year period.