Business
Private Placement Closed
(via TheNewswire) Toronto, ON - TheNewswire - February 18, 2020 - AIML RESOURC...
About this update from Aiml Innovations Inc
[{"type":"text","content":"Private Placement Closed(via TheNewswire)\n\n \nToronto, ON - TheNewswire - February 18, 2020 - AIML RESOURCES INC. (the \"Company\") (TSXV:AIML) The Company reports that, it has closed a non-brokered private-placement offering comprised of 3,000,000 units at $0.11 per unit, for total gross proceeds of $330,000. Each unit consists of one common share and one transferable warrant exercisable at 15 cents per common share until February 18, 2021; and, at $0.20 for the following 12 months. Proceeds will be utilized to retire outstanding debts and provide general working capital. \n\n\n \nAll securities have been legended with an expiry of June 19, 2020.\n\n\n \nA finder's fee of $1,350, representing 1 per cent in cash and 135,000 warrants (representing 10 per cent of the number of subscribed units) exercisable at 35 cents per share for a period of 6 months, was issued to two brokerage firms in connection with a portion of the placement. All securities issued in connection with the private placement are subject to a four-month plus one-day hold period from the date of issue under National Instrument 45-102 and the policies of the TSX Venture Exchange. The completion of the private placement offering is subject to receipt of all regulatory approvals, including the approval of the TSX-V.\n\n\n \nFor more information please visit www.sedar.com or contact:\n\n\n \nJohn Cook, CEO\n\n\n \nAIML Resources Inc.\n\n\n \nTelephone: (416) 200-8073\n\n\n \nE-mail: [email protected]\n\n\n \nNeither the TSX Venture Exchange nor it Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.\n\n\n \nCautionary Statements\n\n\n \nCertain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words \"could\", \"intend\", \"expect\", \"believe\", \"will\", \"projected\", \"estimated\" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking infor...