Business
Affinity Metals Corp. Closes Fully Subscribed $600,000 Non-Brokered Financing and Launches Online Marketing and CEO Verified Forum on AGORACOM to Raise Awareness for the Company
Vancouver, British Columbia--(Newsfile Corp. - September 17, 2019) - Affinity Metals Corp. (...
About this update from Affinity Metals Corp
[{"type":"text","content":"Affinity Metals Corp. Closes Fully Subscribed $600,000 Non-Brokered Financing and Launches Online Marketing and CEO Verified Forum on AGORACOM to Raise Awareness for the CompanyVancouver, British Columbia--(Newsfile Corp. - September 17, 2019) - Affinity Metals Corp. (TSXV: AFF) (the \"Company\" or \"Affinity Metals\") is pleased to announce that it has closed the fully subscribed non-brokered private placement (the \"Offering\") previously announced on September 3, 2019, as amended on September 9, 2019. Under this Offering, the Company has issued 6,000,000 units for gross proceeds of $600,000. No finder's fees were paid in connection with this Offering. All securities issued in this Offering are subject to a hold period expiring January 18, 2020 in accordance with applicable securities laws and the policies of the TSX Venture Exchange (\"TSXV\"). Three insiders subscribed for a total of 1,500,000 units having an aggregate subscription price of $150,000. Participation by insiders in the Offering is considered a \"related party transaction\" pursuant to Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (\"MI 61-101\"). The Company is exempt from the requirements to obtain a formal valuation and minority shareholder approval in connection with the insiders' participation in the Offering in reliance of sections 5.5(a) and 5.7(a) of MI 61-101, respectively, on the basis that participation in the Offering by the insiders did not exceed 25% of the fair market value of the Company's market capitalization. The Company did not file a material change report at least 21 days prior to the closing of the Offering as participation of the insiders had not been confirmed at that time.Affinity Metals Corp. \"CEO Verified\" Discussion Forum on AGORACOM to act as Primary Investor Social Media and Online Marketing PlatformThe Company is also pleased to announce the launch of a \"CEO Verified\" Discussion Forum on AGORACOM. The forum will serve as the Company's primary social media platform to interact with both shareholders and the broader investment community in a fully moderated environment. AGORACOM \"CEO Verified\" provides the first ever identity verification of small cap executives on a finance platform, which will provide Affinity Metals Corp. executives and shareholders with a trusted online fo...