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Havilah Announces Closing of $20,000 Non-Brokered Private Placement to Director and Issuance of Restricted Share Units
Havilah Announces Closing of $20,000 Non-Brokered Private Placement to Director and Issuan...
About this update from 1911 Gold Corp.
[{"type":"text","content":"\n\n\n\nHavilah Announces Closing of $20,000 Non-Brokered Private Placement to Director and Issuance of Restricted Share Units\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, March 21, 2019\n\n\n\nTORONTO, March 21, 2019 /CNW/ - Havilah Mining Corporation (\"Havilah\" or the \"Company\") (TSXV: HMC) is pleased to announce that it has closed a non-brokered private placement (the \"Private Placement\") for aggregate gross proceeds of $20,000. A director of the Company purchased 100% of the Private Placement.\n\n \n \n\n \nThe Private Placement consisted of 66,667 units of the Company (\"Units\"), with each Unit comprised of one common share of the Company (\"Common Share\") and one-half of one Common Share purchase warrant (each whole Common Share purchase warrant, a \"Warrant\"), at a price of $0.30 per Unit. Each Warrant entitles the holder thereof to purchase one additional Common Share at a price of $0.50 per Common Share until September 19, 2021.\nThe net proceeds of the Private Placement will be used for general corporate purposes.\nCertain insiders of the Company (within the meaning of the rules and policies of the TSX Venture Exchange (\"TSXV\") have purchased Units under the Private Placement. The participation of the insider in the Private Placement constitutes a \"related party transaction\" within the meaning of TSXV Policy 5.9 and Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (\"MI 61-101\"). The Company is relying on exemptions from the formal valuation and minority security holder approval requirements set out in sections 5.5(a) and 5.7(1)(a) of MI 61-101 as the fair market value of the subject matter of the Private Placement does not exceed 25% of the market capitalization of the Company as calculated in accordance with MI 61-101.\nThe Common Shares and Warrants that comprise the Units (as well as any Common Shares issued upon exercise of the Warrants) are subject to hold period of four months under applicable securities legislation and the rules and policie...