All securities issued in connection with the Financing and the Warrants are subject to
The net proceeds raised through the Financing will be used for working capital and general corporate purposes, and to pay outstanding accounts. No finder's fees have been paid in connection with the Private Placement.
The Company is also pleased to announce that Mr.
The Company also announces that, subject to regulatory approval, it has granted incentive stock options to certain directors, officers and consultants of the Company to acquire an aggregate of 6,080,000 common shares in the capital of the Company at an exercise price of
ON BEHALF OF THE BOARD
"Andre Agapov"
Neither the
Forward-looking statements:
"This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws. This information and statements address future activities, events, plans, developments and projections. All statements, other than statements of historical fact, constitute forward-looking statements or forward-looking information. Such forward-looking information and statements are frequently identified by words such as "may," "will," "should," "anticipate," "plan," "expect," "believe," "estimate," "intend" and similar terminology, and reflect assumptions, estimates, opinions and analysis made by management of
Risks and uncertainties that may cause actual results to vary include but are not limited to the availability of financing; fluctuations in commodity prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political, economic and other risks; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management's Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com.
SOURCE
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