VANCOUVER, March 31, 2014 /CNW/ -
TSX VENTURE COMPANIES:
ALIX RESOURCES CORP. ("AIX")
BULLETIN TYPE: Private Placement-Non-Brokered
BULLETIN DATE: March 31, 2014
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced March 13, 2014:
| Number of Shares: |
5,000,000 flow-through shares |
| Purchase Price: |
$0.05 per share |
| Warrants: |
5,000,000 share purchase warrants to purchase 5,000,000 shares |
| Warrant Exercise Price: |
$0.075 for a two-year period |
| Number of Placees: |
14 placees |
| Finder's Fee: |
Canaccord Genuity Corp. - $17,000 and 340,000 Finder Warrants that are exercisable into common shares at $0.075 per share for an 18-month period. |
Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company must issue a news release announcing the closing of the private placement and setting out the expiry dates of the hold period(s). The Company must also issue a news release if the private placement does not close promptly. Note that in certain circumstances the Exchange may later extend the expiry date of the warrants, if they are less than the maximum permitted term.
________________________________________
ALIX RESOURCES CORP. ("AIX")
BULLETIN TYPE: Private Placement-Non-Brokered
BULLETIN DATE: March 31, 2014
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced February 14, 2014:
| Number of Shares: |
5,665,000 shares |
| Purchase Price: |
$0.05 per share |
| Warrants: |
5,665,000 share purchase warrants to purchase 5,665,000 shares |
| Warrant Exercise Price: |
$0.06 for a one year period |
| Number of Placees: |
6 placees |
| Insider / Pro Group Participation: |
||
| Insider=Y / |
||
| Name |
ProGroup=P |
# of Shares |
| England Communications Ltd. (Michael England) |
Y |
1,000,000 |
| Aggregate Pro Group Involvement |
P |
2,000,000 |
| [1 placee] |
| Finder's Fee: |
PI Financial – 400,000 Finder Units (one common share and one non-transferable share purchase warrant that is exercisable into a common share at $0.06 per share for a one year period) and 400,000 Finder Warrants that are exercisable into common shares at $0.06 per share for a one year period. |
Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company must issue a news release announcing the closing of the private placement and setting out the expiry dates of the hold period(s). The Company must also issue a news release if the private placement does not close promptly. Note that in certain circumstances the Exchange may later extend the expiry date of the warrants, if they are less than the maximum permitted term.
________________________________________
ANTHEM RESOURCES INC. ("AYN")
BULLETIN TYPE: Halt
BULLETIN DATE: March 31, 2014
TSX Venture Tier 2 Company
Effective at 12:00 p.m., PST, March 31, 2014, trading in the shares of the Company was halted at the request of the Company, pending news. This regulatory halt is imposed by Investment Industry Regulatory Organization of Canada, the Market Regulator of the Exchange pursuant to the provisions of Section 10.9(1) of the Universal Market Integrity Rules.
________________________________________
ARIAN RESOURCES CORP. ("ARC")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement, Correction
BULLETIN DATE: March 31, 2014
TSX Venture Tier 2 Company
Further to the TSX Venture Exchange bulletin dated March 28, 2014 with respect to the Share Purchase Agreement between Balkan Resources Inc., Balkan Resources Sh.p.k. and the Company whereby the Company has purchased the Perlat exploitation permit that is located in Albania, of the $4,000,000 consideration $2,000,000 is payable on June 30, 2015, not June 30, 2014.
In all other respects, the consideration is unchanged and the rest of the bulletin is unchanged.
________________________________________
BIOSIGN TECHNOLOGIES INC. ("BIO")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement
BULLETIN DATE: March 31, 2014
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation relating to a Share Purchase Agreement (the "Agreement") dated December 31, 2013 between two arm's length parties (collectively, the "Vendors") and Biosign Technologies Inc. (the "Company"). Pursuant to the Agreement, the Company shall acquire 100% of the issued and outstanding shares of Q Line Solutions Inc. which serves the home healthcare market in Canada and is located in Peterborough, Ontario.
In consideration the Company shall pay $800,000 plus issue an aggregate of 44,000,000 common shares at a deemed price of $0.05 per share.
For more information, refer to the Company's news releases dated July 11, 2013, November 8, 2013 and January 8, 2014.
________________________________________
BLACKSTONE VENTURES INC. ("BLV")
BULLETIN TYPE: Halt
BULLETIN DATE: March 31, 2014
TSX Venture Tier 2 Company
Effective at 12:57 p.m., PST, March 31, 2014, trading in the shares of the Company was halted pending company contact. This regulatory halt is imposed by Investment Industry Regulatory Organization of Canada, the Market Regulator of the Exchange pursuant to the provisions of Section 10.9(1) of the Universal Market Integrity Rules.
________________________________________
BOSS POWER CORP. ("BPU")
BULLETIN TYPE: Halt
BULLETIN DATE: March 31, 2014
TSX Venture Tier 2 Company
Effective at 11:57 a.m., PST, March 31, 2014, trading in the shares of the Company was halted at the request of the Company, pending new. This regulatory halt is imposed by Investment Industry Regulatory Organization of Canada, the Market Regulator of the Exchange pursuant to the provisions of Section 10.9(1) of the Universal Market Integrity Rules.
________________________________________
ID WATCHDOG, INC. ("IDW")
BULLETIN TYPE: Company Tier Reclassification
BULLETIN DATE: March 31, 2014
TSX Venture Tier 1 Company
In accordance with Policy 2.5, the Company has not met the requirements for a Tier 1 company. Therefore, effective Tuesday April 1, 2014, the Company's Tier classification will change from Tier 1 to:
| Classification |
|
| Tier 2 |
|
_______________________________________________
KANE BIOTECH INC. ("KNE")
BULLETIN TYPE: Shares for Debt
BULLETIN DATE: March 31, 2014
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing the Company's proposal to issue 118,383 shares to settle outstanding debt for $12,430.26.
| Number of Creditors: |
1 Creditor |
| Insider / Pro Group Participation: |
|
| Insider=Y / |
Amount |
Deemed Price |
||
| Creditor |
Progroup=P |
Owing |
per Share |
# of Shares |
| Philip Renaud |
Y |
$12,430.26 |
$0.105 |
118,383 |
The Company shall issue a news release when the shares are issued and the debt extinguished.
________________________________________
MARGAUX RESOURCES LTD. ("MRL")
BULLETIN TYPE: Private Placement-Non-Brokered
BULLETIN DATE: March 31, 2014
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced October 16, 2013:
| Number of Shares: |
9,375,000 shares |
| Purchase Price: |
$0.08 per share |
| Number of Placees: |
9 placees |
| Insider / Pro Group Participation: |
||
| Insider=Y / |
||
| Name |
ProGroup=P |
# of Shares |
| Hugh Tyler Rice |
Y |
312,500 |
| No Finder's Fee |
||
Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company must issue a news release announcing the closing of the private placement and setting out the expiry dates of the hold period(s). The Company must also issue a news release if the private placement does not close promptly.
________________________________________
MASON GRAPHITE INC. ("LLG")
BULLETIN TYPE: Halt
BULLETIN DATE: March 31, 2014
TSX Venture Tier 2 Company
Effective at 5:16 a.m., PST, March 31, 2014, trading in the shares of the Company was halted at the request of the Company, pending news. This regulatory halt is imposed by Investment Industry Regulatory Organization of Canada, the Market Regulator of the Exchange pursuant to the provisions of Section 10.9(1) of the Universal Market Integrity Rules.
________________________________________
MAX RESOURCE CORP. ("MXR")
BULLETIN TYPE: Private Placement-Non-Brokered
BULLETIN DATE: March 31, 2014
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced February 12, 2014:
| Number of Shares: |
6,320,000 shares |
| Purchase Price: |
$0.05 per share |
| Warrants: |
6,320,000 share purchase warrants to purchase 6,320,000 shares |
| Warrant Exercise Price: |
$0.12 for a two year period, subject to an acceleration clause |
| Number of Placees: |
36 placees |
| Insider / Pro Group Participation: |
||
| Insider=Y / |
||
| Name |
ProGroup=P |
# of Shares |
| Aggregate Pro Group Involvement |
P |
480,000 |
| [3 placees] |
||
| Finders' Fees: |
IPC Securities Corp. - $1,400 cash and 28,000 warrants payable. |
| Raymond James Ltd. - $5,250 cash and 105,000 warrants payable. |
|
| - Each warrant is exercisable into one common share at $0.12 for two years from closing. |
|
Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company must issue a news release announcing the closing of the private placement and setting out the expiry dates of the hold period(s). The Company must also issue a news release if the private placement does not close promptly. [Note that in certain circumstances the Exchange may later extend the expiry date of the warrants, if they are less than the maximum permitted term.]
________________________________________
PACIFIC NORTH WEST CAPITAL CORP. ("PFN")
BULLETIN TYPE: Private Placement-Non-Brokered
BULLETIN DATE: March 31, 2014
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced February 27, 2014 and March 25, 2014:
| Number of Shares: |
10,000,000 shares |
| Purchase Price: |
$0.05 per share |
| Warrants: |
5,000,000 share purchase warrants to purchase 5,000,000 shares |
| Warrant Exercise Price: |
$0.10 in the first year |
| $0.20 in the second year |
|
| $0.30 in the third year |
|
| Number of Placees: |
33 placees |
| Insider / Pro Group Participation: |
||
| Insider=Y / |
||
| Name |
ProGroup=P |
# of Shares |
| Harry Barr |
Y |
2,745,000 |
| John Londry |
Y |
125,000 |
| William Stone |
Y |
140,000 |
| Robert Guanzon |
Y |
100,000 |
| John Oness |
Y |
100,000 |
| Michael Neuman |
Y |
1,100,000 |
| Kabavest Holdings Ltd. (Kevin Lawrence) |
Y |
50,000 |
| Aggregate Pro Group Involvement |
P |
150,000 |
| [1 placee] |
||
| Finder's Fee: |
$2,500 payable to Canaccord Genuity Corp. |
| $750 payable to Euro Pacific Canada Inc. |
|
| $2,000 payable to PI Financial Corp. |
|
Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company must issue a news release announcing the closing of the private placement and setting out the expiry dates of the hold period(s). The Company must also issue a news release if the private placement does not close promptly. Note that in certain circumstances the Exchange may later extend the expiry date of the warrants, if they are less than the maximum permitted term.
________________________________________
POPLAR CREEK RESOURCES INC. ("PCK")
BULLETIN TYPE: Shares for Debt
BULLETIN DATE: March 31, 2014
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing the Company's proposal to issue 6,128,000 shares to settle outstanding debt for $306,400.
| Number of Creditors: |
7 Creditors |
|||
| Insider / Pro Group Participation: |
||||
| Insider=Y / |
Amount |
Deemed Price |
||
| Creditor |
Progroup=P |
Owing |
per Share |
# of Shares |
| George Watson |
Y |
$44,750 |
$0.05 |
895,000 |
| Lee Nichols |
Y |
$109,750 |
$0.05 |
2,195,000 |
| John Carruthers |
Y |
$31,700 |
$0.05 |
634,000 |
| Gregory Harris |
Y |
$28,000 |
$0.05 |
560,000 |
| Richard Edgar |
Y |
$33,750 |
$0.05 |
675,000 |
| Colin Cook |
Y |
$25,000 |
$0.05 |
500,000 |
The Company shall issue a news release when the shares are issued and the debt extinguished.
________________________________________
RED PINE EXPLORATION INC. ("RPX")
BULLETIN TYPE: Halt
BULLETIN DATE: March 31, 2014
TSX Venture Tier 2 Company
Effective at 5:42 a.m., PST, March 31, 2014, trading in the shares of the Company was halted at the request of the Company, pending news. This regulatory halt is imposed by Investment Industry Regulatory Organization of Canada, the Market Regulator of the Exchange pursuant to the provisions of Section 10.9(1) of the Universal Market Integrity Rules.
________________________________________
RED PINE EXPLORATION INC. ("RPX")
BULLETIN TYPE: Resume Trading
BULLETIN DATE: March 31, 2014
TSX Venture Tier 2 Company
Effective at 12:30 p.m., PST, March 31, 2014, shares of the Company resumed trading, an announcement having been made.
________________________________________
RODINIA OIL CORP. ("ROZ")
BULLETIN TYPE: Halt
BULLETIN DATE: March 31, 2014
TSX Venture Tier 2 Company
Effective at 5:13 a.m., PST, March 31, 2014, trading in the shares of the Company was halted for failure to maintain Exchange Requirements. This regulatory halt is imposed by Investment Industry Regulatory Organization of Canada, the Market Regulator of the Exchange pursuant to the provisions of Section 10.9(1) of the Universal Market Integrity Rules.
________________________________________
ROYAL LIFESCIENCE CORP. ("RLS.P")
BULLETIN TYPE: Notice – QT Not Completed – Approaching 24 Months of Listing
BULLETIN DATE: March 31, 2014
TSX Venture Tier 2 Company
The shares of the Company were listed on TSX Venture Exchange on April 30, 2012. The Company being classified as a Capital Pool Company ('CPC') is required to complete a Qualifying Transaction ('QT') within 24 months of its date of listing, in accordance with Exchange Policy 2.4.
The records of the Exchange indicate that the Company has not yet completed a QT. Failure to complete a QT by the 24 month deadline date of April 30, 2014 may result in the Company's trading status being changed to a halt or suspension without further notice, in accordance with Exchange Policy 2.4, Section 14.6.
_________________________________________
SAXON OIL COMPANY LTD. ("SXN")
BULLETIN TYPE: Declaration of Dividend, Remain Suspended
BULLETIN DATE: March 31, 2014
TSX Venture Tier 2 Company
| The Issuer has declared the following dividend: |
|
| Dividend per Share: |
US$0.0253 |
| Payable Date: |
April 11, 2014 |
| Record Date: |
April 4, 2014 |
| Ex-Dividend Date: |
April 2, 2014 |
Further to the Exchange's bulletin dated December 6, 2012, members are prohibited from trading in the securities of the Company during the period of the suspension or until further notice.
Please refer to the Company's news release of March 20, 2014 for further details.
________________________________________
SPARTAN ENERGY CORP. ("SPE")
BULLETIN TYPE: Private Placement-Non-Brokered
BULLETIN DATE: March 31, 2014
TSX Venture Tier 1 Company
TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced December 5, 2013:
| Number of Units: |
33,721,713 units ("Units") on post-consolidation basis |
|
| Each Unit consists of one common share and one common share purchase warrant ("Warrant"). |
||
| 10,444,954 shares ("Shares") on post-consolidation basis |
||
| Purchase Price: |
$0.60 per Unit |
|
| $0.60 per Share |
||
| Warrants: |
33,721,713 share purchase warrants to purchase 33,721,713 shares on post-consolidation basis |
|
| Warrant Exercise Price: |
$0.80 for a period of five years from date of issuance. |
|
| Number of Placees: |
272 placees |
|
| Insider / Pro Group Participation: |
||
| Insider=Y / |
||
| Name |
ProGroup=P |
# of Securities |
| Michelle Wiggins |
Y |
1,673,796 Units |
| Thomas Boreen |
Y |
833,333 Units |
| 83,334 Shares |
||
| Grant Greenslade |
Y |
1,666,667 Units |
| Michael Stark |
Y |
1,666,667 Units |
| Eddie Wong |
Y |
1,666,667 Units |
| Al Stark |
Y |
5,000,000 Units |
| Reginald Greenslade |
Y |
1,666,667 Units |
| Fotis Kalantzis |
Y |
6,500,000 Units |
| Richard McHardy |
Y |
6,666,667 Units |
| 16,667 Shares |
||
| Sanjib Gill |
Y |
833,333 Units |
| Don Archibald |
Y |
1,666,667 Units |
| Aggregate Pro Group Involvement |
P |
1,735,802 Shares |
| [25 placees] |
||
| Finder's Fee: |
None |
|
The Exchange acknowledges receipt of disinterested shareholder approval obtained by written consent of shareholders holding more that 50% of the issued and outstanding on December 10, 2013 approving the Reorganization and Investment Agreement dated December 5, 2013, which contemplates the change of management and the new management team. Additionally, please see the Company's press release dated February 26, 2014 in reference to the consolidation. For further information please see the Company's Information Circular dated January 21, 2014 and press releases dated December 5, 2013; December 10, 2013 and December 24, 2013.
________________________________________
SPARTAN ENERGY CORP. ("SPE")
BULLETIN TYPE: Private Placement-Non-Brokered
BULLETIN DATE: March 31, 2014
TSX Venture Tier 1 Company
TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced December 18, 2013:
| Number of Shares: |
1,275,000 shares on post-consolidation basis |
| Purchase Price: |
$1.96 per share on post-consolidation basis |
| Number of Placees: |
11 placees |
| Insider / Pro Group Participation: |
| Insider=Y / |
||
| Name |
ProGroup=P |
# of shares |
| Richard McHardy |
Y |
282,000 Shares |
| Michelle Wiggins |
Y |
71,250 Shares |
| Fotis Kalantzis |
Y |
282,000 Shares |
| Eddie Wong |
Y |
71,250 Shares |
| Thomas Boreen |
Y |
35,500 Shares |
| Albert Stark |
Y |
212,500 Shares |
| Michael Stark |
Y |
71,250 Shares |
| Reginald Greenslade |
Y |
71,250 Shares |
| Grant Greenslade |
Y |
71,250 Shares |
| Donald Archibald |
Y |
71,250 Shares |
| Sanjib Gill |
Y |
35,500 Shares |
| Finder's Fee: |
None |
For further information please see the Company's new release dated January 14, 2014.
________________________________________
SYMBIO CAPITAL CORP. ("SYB.P")
BULLETIN TYPE: Notice – QT Not Completed – Approaching 24 Months of Listing
BULLETIN DATE: March 31, 2014
TSX Venture Tier 2 Company
The shares of the Company were listed on TSX Venture Exchange on April 30, 2012. The Company being classified as a Capital Pool Company ('CPC') is required to complete a Qualifying Transaction ('QT') within 24 months of its date of listing, in accordance with Exchange Policy 2.4.
The records of the Exchange indicate that the Company has not yet completed a QT. Failure to complete a QT by the 24 month deadline date of April 30, 2014 may result in the Company's trading status being changed to a halt or suspension without further notice, in accordance with Exchange Policy 2.4, Section 14.6.
___________________________________
TASMAN METALS LTD. ("TSM")
BULLETIN TYPE: Private Placement-Non-Brokered, Amendment
BULLETIN DATE: March 31, 2014
TSX Venture Tier 1 Company
Further to the bulletin dated March 17, 2014, TSX Venture Exchange has an amendment to the second and final tranche of a Non-Brokered Private Placement announced January 22, 2014. The amendment relates to the total number of shares and warrants issued, and the finder's fee terms as follows.
| Number of Shares: |
1,044,077 shares |
| Purchase Price: |
$1.10 per share |
| Warrants: |
1,044,077 share purchase warrants to purchase 1,044,077 shares |
| Warrant Exercise Price: |
$1.50 for a three year period |
| Number of Placees: |
3 placees |
| Finder's Fee: |
Global Market Development LLC (Jeffrey Phillips) receives $80,008.93 and 103,907 non-transferable options to purchase for a period of three years up to 103,907 units, with the same terms as the above private placement. |
The rest of the bulletin remains unchanged.
________________________________________
TG RESIDENTIAL VALUE PROPERTIES LTD. ("TG.H")
[formerly TG Residential Value Properties Ltd. ("TG.P")]
BULLETIN TYPE: Transfer and New Addition to NEX, Symbol Change, Remain Suspended
BULLETIN DATE: March 31, 2014
TSX Venture Tier 2 Company
In accordance with TSX Venture Policy 2.4, Capital Pool Companies, the Company has not completed a Qualifying Transaction within the prescribed time frame. Therefore, effective at the opening on April 1, 2014, the Company's listing will transfer to NEX, the Company's Tier classification will change from Tier 2 to NEX, and the Filing and Service Office will change from Vancouver to NEX.
As of April 1, 2014, the Company is subject to restrictions on share issuances and certain types of payments as set out in the NEX policies.
The trading symbol for the Company will change from TG.P to TG.H. There is no change in the Company's name, no change in its CUSIP number and no consolidation of capital. The symbol extension differentiates NEX symbols from Tier 1 or Tier 2 symbols within the TSX Venture market.
Further to the TSX Venture Exchange Bulletin dated November 7, 2013, trading in the Company's securities will remain suspended.
__________________________________
WEST MOUNTAIN CAPITAL CORP. ("WMT")
BULLETIN TYPE: Halt
BULLETIN DATE: March 31, 2014
TSX Venture Tier 2 Company
Effective at 10:51 a.m. PST, March 31, 2014, trading in the shares of the Company was halted at the request of the Company, pending news. This regulatory halt is imposed by Investment Industry Regulatory Organization of Canada, the Market Regulator of the Exchange pursuant to the provisions of Section 10.9(1) of the Universal Market Integrity Rules.
________________________________________
WEST MOUNTAIN CAPITAL CORP. ("WMT")
BULLETIN TYPE: Resume Trading
BULLETIN DATE: March 31, 2014
TSX Venture Tier 2 Company
Effective at 12:00 p.m., PST, March 31, 2014, shares of the Company resumed trading, an announcement having been made.
________________________________________
NEX COMPANIES:
AINTREE RESOURCES INC. ("AIN.H")
BULLETIN TYPE: Private Placement-Non-Brokered, Remain Suspended
BULLETIN DATE: March 31, 2014
NEX Company
TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced:
| Number of Shares: |
100,000 shares |
| Purchase Price: |
$0.10 per share |
| Number of Placees: |
2 placees |
| Insider / Pro Group Participation: |
|
| Insider=Y / |
||
| Name |
ProGroup=P |
# of Shares |
| 0868488 BC Ltd. (Patrice Nazareno) |
Y |
50,000 |
| Gary MacDonald |
Y |
50,000 |
| Finder's Fee: |
N/A |
|
Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company must issue a news release announcing the closing of the private placement and setting out the expiry dates of the hold period(s). The Company must also issue a news release if the private placement does not close promptly.
Further to TSX Venture Exchange Bulletins dated May 22, 2012 and February 22, 2012, trading in the Company's securities will remain suspended.
________________________________________
LW CAPITAL POOL INC. ("LWI.H")
BULLETIN TYPE: CPC-Filing Statement, Remain Halted
BULLETIN DATE: March 31, 2014
NEX Company
TSX Venture Exchange has accepted for filing the Company's CPC Filing Statement dated March 25, 2014, for the purpose of filing on SEDAR.
Further to the TSX Venture Exchange ('TSXV') Bulletin dated January 2, 2014, trading in the shares of the Company will remain halted.
_____________________
MPVC INC. ("UNO")
[formerly MPVC Inc. (MVC.H)]
BULLETIN TYPE: Resume Trading, Change of Business, Private Placement-Non-Brokered, Graduation from NEX to TSX Venture, Symbol Change
BULLETIN DATE: March 31, 2014
NEX Company
Resume Trading
Effective at opening on Tuesday, April 1, 2014, the common shares of the Company will resume trading, an announcement having been made on March 25, 2014 as to completion of the Company's Change of Business, as set forth below.
Change of Business
TSX Venture Exchange has accepted for filing the Company's Change of Business, which includes the acceptance of the following transaction involving an arm's length acquisition (the Acquisition) from CanAlaska Uranium Ltd. (CanAlaska), a TSX listed issuer, of a right to acquire up to an 80% interest in a uranium exploration property located in northwest Manitoba (the Northwest Manitoba Property), with the result that the Company will become a mining issuer.
Under the terms of an Option Agreement dated September 25, 2013, as amended, (the Option Agreement) and entered into between the Company and CanAlaska, in order to earn the interest in the Northwest Manitoba Property, MPVC must satisfy a three stage $11.6 million exploration program, through the following requirements:
1. In order to acquire a 50% interest, the Company must:
| (a) |
Pay a cash deposit of $35,000, which, upon Exchange approval, was paid; |
||
| (b) |
Issue 2,250,000 common shares at a deemed price of $0.10 per share for aggregate deemed consideration of $225,000; |
||
| (c) |
Issue 1,000,000 warrants exercisable at $0.10 per share for a term of one year following closing; |
||
| (d) |
Issue 1,250,000 warrants exercisable at $0.15 per share for a term of two years following closing; |
||
| (e) |
Incur $600,000 of expenditures on the Northwest Manitoba Property on or before June 1, 2014; |
||
| (f) |
Issue an additional 2,250,000 common shares at a price in accordance with Exchange requirements; and |
||
| (g) |
Incur an additional $2,600,000 of expenditures on the Northwest Manitoba Property on or before June 1, 2015. |
||
2. After exercise of its 50% interest and in order to increase its interest to 70%, the Company must:
| (a) |
Issue 2,500,000 common shares at a price in accordance with Exchange requirements; |
||
| (b) |
Issue 1,250,000 warrants exercisable at a price in accordance with Exchange requirements, for a period of two years after issuance; and |
||
| (c) |
Incur $2,800,000 of expenditures on the Northwest Manitoba Property within a period set forth in the Option Agreement. |
||
3. After exercise of its 70% interest and in order to increase its interest to 80%, the Company must:
| (a) |
Issue 5,000,000 common shares at a price in accordance with Exchange requirements; |
||
| (b) |
Issue 2,500,000 warrants exercisable at a price in accordance with Exchange requirements, for a period of three years after issuance; and |
||
| (c) |
Incur $5,600,000 of expenditures on the Northwest Manitoba Property within a period set forth in the Option Agreement. |
||
As a condition of completion of the Acquisition, the Company completed two non-brokered private placements for aggregate gross proceeds of $2,262,000. The first private placement consisted of 11,722,000 units (the Units) issued at a price of $0.10 per Unit for gross proceeds of $1,172,200. Each Unit consists of one common share and one share purchase warrant (the Warrant). Each Warrant entitles the holder to purchase one common share at a price of $0.15 per share, exercisable for a period of two years from closing.
The Company also completed another non-brokered private placement, which consists of the issuance of 10,900,000 common shares issued on a flow-through basis, at a price of $0.10 per share for gross proceeds of $1,090,000.
The Exchange has been advised that the above Change of Business, approved through shareholder consents, has been completed. Additional details of the transactions are included in the Company's Filing Statement dated December 19, 2013, as well as its news releases dated October 4, November 7, and November 13, 2013, and January 23 and March 25, 2014, all of which may be found on SEDAR.
In addition, the Exchange has accepted for filing the following:
Private Placement-Non-Brokered
TSX Venture Exchange has accepted for filing documentation with respect to Non-Brokered Private Placements announced January 23, 2014:
| Number of Shares: |
11,722,000 common shares |
| 10,900,000 common shares (flow-through) |
|
| Purchase Price: |
$0.10 per share |
| Warrants: |
11,722,000 share purchase warrants to purchase common shares |
| Warrant Exercise Price: |
$0.15 per warrant until March 21, 2016 |
| Number of Placees: |
42 placees |
| Insider / Pro Group Participation: |
||
| Insider=Y / |
||
| Name |
ProGroup=P |
# of Common Shares |
| C. Fipke Holdings Ltd. (Charles Fipke) |
Y |
7,500,000 (flow-through) |
| Element 29 Ventures Ltd. (Chad Ulansky) |
Y |
350,000 |
| Aggregate Pro-Group Involvement |
P |
300,000 |
| [1 placee] |
||
| Finder's Fee: |
Payable to GMP Securities L.P. as to $16,400 and 164,000 finder's warrants and Pope & Company Ltd. as to $33,200 and 332,000 finder's warrants, with each finder's warrant exercisable at $0.10 per share until March 21, 2016, as well as cash finder's fees of $14,220 to Andrew Phillips, $3000 to PI Finanical Corp., $1000 to MGI Securities Inc., $2000 to Robert Messenger, $3750 to Morgan Good, $8250 to Navigator Capital Partners Inc. and $2500 to Haywood Securities Inc. |
Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company has issued a news release announcing the closing of the private placement and setting out the expiry dates of the hold period(s). Note that in certain circumstances the Exchange may later extend the expiry date of the warrants, if they are less than the maximum permitted term.
Graduation from NEX to TSX Venture, Symbol Change
The Company has met the requirements to be listed as a TSX Venture Tier Company. Therefore, effective on April 1, 2014, the Company's listing will transfer from NEX to TSX Venture, the Company's Tier classification will change from NEX to Tier 2 and the Filing and Service Office will change from NEX to Calgary.
Effective at the opening on Tuesday, April 1, 2014, the trading symbol for the Company will change from MVC.H to UNO.
The Company is classified as a 'Mining' Company.
| Capitalization: |
Unlimited |
common shares with no par value of which |
| 42,659,016 |
common shares are issued and outstanding |
|
| Escrowed: |
2,575,426 |
common shares |
| Escrow Term: |
3 year(s) |
|
| Symbol: |
UNO (new) |
| Company Contact: |
Chad Ulansky |
| Company Address: |
203-1634 Harvey Ave. |
| Kelowna, BC V1Y 6G2 |
|
| Company Phone Number: |
250-860-8599 |
| Company Fax Number: |
250-860-1362 |
| Company Email Address: |
________________________________________
SOURCE: TSX Venture Exchange
Market Information Services at 1-888-873-8392, or email: [email protected]
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