Red Cloud Securities Inc. acted as lead underwriter and sole bookrunner on behalf of a syndicate of underwriters including Eight Capital and Canaccord Genuity Corp (collectively, the " Underwriters ").
Each FT Unit consisted of one common share of the Company to be issued as "flow-through shares" within the meaning of the Income Tax Act (Canada) (the " Income Tax Act ") and one half of one common share purchase warrant (each whole warrant, a " Warrant "). Each Warrant shall entitle the holder to purchase one common share of the Company (each, a " Warrant Share ") at a price of C$0.50 at any time on or before 5:00 pm on December 21, 2022. The Warrant Shares issued on exercise of the Warrants will not be "flow-through shares" for the purposes of the Income Tax Act.
The Underwriters received a cash commission of 6.0% of the gross proceeds of the […]
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