(via TheNewswire)
Each Unit is comprised of one (1) common share (each, a "Share") in the capital of the Corporation and one (1) Share purchase warrant (each, a "Unit Warrant"), entitling the holder to purchase one (1) Share at an exercise price of
In the event that, during the period of 4 months following the closing date of the Offering, the trading price of the Shares on the Canadian Securities Exchange (the "CSE") reaches
The Corporation will use the proceeds of the Offering to further advance the nickel extraction technology, exploration at the
The Corporation paid a total of
All securities issued pursuant to this tranche of the Offering are subject to the applicable statutory hold period ending
Insiders' participation:
Total placees: 15
Multilateral Instrument 61-101
Given the proposed participation of the insider holders, the proposed financing constitutes a "related party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security holders in Special Transactions ("MI 61-101").
St-Georges is relying on an exemption to both the formal valuation and the minority shareholder approvalrequirements of MI 61-101, as neither the fair market value of the Units to be distributed to, nor the fair market value of the consideration to be received by St-Georges from the insider holders in connection with the proposed financing exceeds 25% of St-Georges' share capitalisation.
ON BEHALF OF THE BOARD OF DIRECTORS
"
COO & Director
About St-Georges
St-Georges is developing new technologies to solve some of the most common environmental problems in the mining industry. The Company controls all the active mineral tenures in
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
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Copyright (c) 2020 TheNewswire - All rights reserved., source