88 Cap­i­tal gets TSX-V con­di­tional OK for RTO, place­ment

Stockwatch Daily - - FRONT PAGE - An anony­mous di­rec­tor re­ports

THE TSX Ven­ture Ex­change has pro­vided its con­di­tional ac­cep­tance of 88 Cap­i­tal Corp.’s ac­qui­si­tion of Golden Ridge Re­sources Ltd. and 88 Cap­i­tal’s con­cur­rent fi­nanc­ing pre­vi­ously an­nounced on March 1, 2017.

The con­di­tional ap­proval was granted based on the draft fil­ing state­ment that the com­pany has submitted to the TSX-V. Fur­ther de­tails re­gard­ing the trans­ac­tion will be out­lined in the fil­ing state­ment, and re­mains sub­ject to fi­nal re­view and ap­proval of the TSX-V. In­vestors are cau­tioned that, ex­cept as dis­closed in the fi­nal fil­ing state­ment, any in­for­ma­tion re­leased or re­ceived with re­spect to the trans­ac­tion is in draft form and should not be re­lied upon.

Ad­di­tional ex­emp­tion to pri­vate place­ment

In ad­di­tion to other avail­able prospec­tus ex­emp­tions, a por­tion of the of­fer­ing may be com­pleted pur­suant to Mul­ti­lat­eral No­tice 45-318 — prospec­tus ex­emp­tion for cer­tain dis­tri­bu­tions through an in­vest­ment dealer (CSA 45-318), and the cor­re­spond­ing blan­ket or­ders and rules im­ple­ment­ing CSA 45-318 in the par­tic­i­pat­ing ju­ris­dic­tions in re­spect thereof. As at the date hereof, the in­vest­ment dealer ex­emp­tion is avail­able in each of Al­berta, Bri­tish Columbia, Saskatchewan, Man­i­toba and New Brunswick. Pur­suant to CSA 45-318, each sub­scriber re­ly­ing on the in­vest­ment dealer ex­emp­tion must ob­tain ad­vice re­gard­ing the suit­abil­ity of the in­vest­ment from a reg­is­tered in­vest­ment dealer.

As de­scribed in the prior press re­lease, the com­pany in­tends to is­sue up to: (a) 8 mil­lion units at a price of 12.5 cents per unit for to­tal gross pro­ceeds of $1-mil­lion; and (b) 13,333,333 flow-through shares at a price of 15 cents per FT share for to­tal gross pro­ceeds of $2-mil­lion. Each unit will con­sist of one com­mon share and one-half of one com­mon share pur­chase war­rant, with each war­rant be­ing ex­er­cis­able to ac­quire one co mmon share of t he com­pany at a price of 25 cents for a pe­riod of 36 months fol­low­ing the clos­ing date of the of­fer­ing.

The pro­ceeds of the of­fer­ing will be used to ad­vance ex­plo­ration ac­tiv­i­ties on the Hank prop­erty, gen­eral cor­po­rate pur­poses and fu­ture work­ing cap­i­tal. The se­cu­ri­ties is­sued pur­suant to the of­fer­ing will be sub­ject to statu­tory hold pe­ri­ods ex­pir­ing four months and one day from the date of is­suance of such se­cu­ri­ties, and such other re­stric­tions as are re­quired by ap­pli­ca­ble se­cu­ri­ties laws. There is no ma­te­rial fact or ma­te­rial change of the com­pany that has not been gen­er­ally dis­closed.

The com­pany ex­pects to close the of­fer­ing on or about July 21, 2017.

Gre­gory Franklin Amor, Gerard El­ston John­ston

(EEC) Shares: 8,896,988

Newspapers in English

Newspapers from Canada

© PressReader. All rights reserved.