Private Placement Financing. In connection with the Transaction, the Company intends to conduct a non-brokered private placement (the "Financing") of a minimum of 20,000,000 subscription receipts (each, a "Receipt") at a price of Cdn$0.30 per Receipt. The proceeds of the Financing will be held in escrow pending the Company completing the Transaction. Upon completion of the Transaction, each Receipt will automatically convert into one post-Consolidation unit (each, a "Unit") of the Company. Each "Unit" will consist of one common share of the Company and one-half-of-one common share purchase warrant. Each whole warrant will entitle the holder to acquire a further common share at a price of Cdn$0.50 per share for period of twenty-four months. All securities to be issued by the Company pursuant to the Financing will be subject to a four-month statutory hold period. The Company anticipates paying finders' fees to certain eligible parties who have introduced subscribers to the Financing. The proceeds of the Financing are intended to be used to advance exploration and development at Los Xxxxx, and to satisfy working capital requirements of the Transaction. The Los Xxxxx Project Located 43 kilometres south east of the mining centre of Cosala, Sinaloa, Los Xxxxx has a mining history that stretches back into the 1700s and has seen mining activity as recently as the 1980s. Recent development work has focused on conventional milling and carbon in xxxxx extraction of gold and silver. The Company envisions a simple heap xxxxx operation that potentially has significantly lower capital costs and shortened time line to production. Los Xxxxx has significant resource upside with open extensions to known resources as well as eight additional discrete exploration targets. Los Xxxxx has a historical estimate of: To view an enhanced version of this graphic, please visit: xxxxx://xxxxxx.xxxxxxxxxxxx.xxx/files/5688/45901_c24d6fdef4ef6921_002full.jpg The resource model for Los Xxxxx was prepared by Tetra Tech, Inc. of Golden, Colorado for MAI. The mineral resource estimate has an effective date of February 8, 2013 and is presented in a geological report which was most recently amended and restated April 16, 2018, a copy of which is available under MAI's profile on SEDAR (filed July 31, 2018). Mineral resources that are not mineral reserves do not have demonstrated economic viability. The Company is not treating these historical estimates as current and has not completed sufficient work to classify these histor...
Private Placement Financing. In June 1996, the company announced that it had engaged Sands Brothers & Co., Ltd. to act as placement agent in connection with a proposed private placement of approximately $7-10 million in equity securities and that net proceeds of the private placement would be used principally to fund the Company's roll-out of products in the Southeastern region of the United States, development of foreign markets and for research and development of additional products. Although the Company is pursuing such financing, the Company and Sands Brothers have not yet been able to arrange for the sale of such amount of securities and the financing may not be completed in those amounts or at all. The Company expects to use the net proceeds of the sale of common stock pursuant to the Agreement to fund its operations until additional financing is obtained. The Company's operations to date have consumed substantial and increasing amounts of cash. (See the Company's financial statements contained in the 1934 Act Reports.) The Company has in the past financed its growth and operations principally through private placements of equity securities. The continued development and
Private Placement Financing. Pubco will have received $1,500,000, inclusive of the Bridge Loan, from Xxxxx Investment pursuant to the Private Placement at or prior to Closing;
Private Placement Financing. PubCo will have received a minimum of $2,500,000.00 proceeds pursuant to the Private Placement prior to Closing, and all such Subscription Proceeds shall have been deposited pursuant to an escrow agreement, the terms of which shall be reasonably acceptable to PubCo, and shall remain deposited in escrow. All amounts received in the escrow account above $1,625,000.00 and until $2,500,000.00 shall be transferred to repay the Convertible Loan Agreement listed in Schedule F, if so required under the Convertible Loan Agreement immediately upon closing.
Private Placement Financing. IGA hereby agrees to compensate Finder by paying a cash finders fee equal to ten percent (10%) of the amount (the "Compensation") for Financing attributable to introductions provided by Finder in accordance with the provisions of this Agreement. The Compensation due hereunder shall be paid to Finder on the closing date with respect to introductions provided by Finder.
Private Placement Financing. During the term of this agreement, if Delta enters into a binding contract for an AGC Acquisition Funding, Delta shall pay to AGC, at the time that funds are disbursed pursuant to the arrangements of that AGC Acquisition Funding, a cash fee based upon the total face value of the transaction in accordance with the following schedule: (i) four percent (4%) of a term debt financing; (ii) three percent (3%) of the incremental amount funded under a revolving credit line; (iii) five percent (5%) of a credit enhancement instrument, including an insured or guaranteed obligation (the credit enhancement instrument to be valued along with any debt financing secured, so that a single 5% fee will apply to the combined value of the debt and credit enhancement instruments), and (iv) five percent (5%) of financing that is structured as a revenue-producing contract, fee-sharing arrangement, or similar agreement. This obligation shall survive for a period of two (2) years from the date of execution of the agreement for each such transaction.
Private Placement Financing. The Company shall arrange a private placement financing sufficient to complete the Venture, or up to US$150,000,000 in addition to the financing referred to in 9.1.1 above. The private placement shall close on the Closing Date and may be subject to the completion of this Agreement.
Private Placement Financing. Prior to the earlier of the Closing and the termination of this Agreement in accordance with its terms:
