Windfire Announces Financing and provides an Update on its Change of Business Transaction

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[{"type":"text","content":"Windfire Announces Financing and provides an Update on its Change of Business Transaction(via Thenewswire.ca)\n \n \nVancouver, British Columbia / TNW-ACCESSWIRE / June 17, 2014 / Windfire Capital Corp. (\"Windfire\") (TSX-V: \"WIF\") announces a private placement financing consisting of the issuance of between 10,000,000 and 12,000,000 units at a price of $0.25 per unit (\"Unit\") (the \"Offering\"), for minimum gross proceeds of $2,500,000 and maximum gross proceeds of $3,000,000. Each Unit will consist of one common share in the capital of Windfire and one-half of one share purchase warrant, with each whole warrant entitling the holder thereof to purchase, for a period of 12 months from the date of issuance, subject to accelerated expiry as outlined below, one additional common share of Windfire at a price of $0.40 per common share. \n\n \n \nA portion of the Offering, being $500,000, will be structured as a brokered offering and the balance will be non-brokered. With respect to the brokered portion, Windfire has entered into a letter of engagement with Wolverton Securities Ltd. (\"Wolverton\"), in connection with an equity financing having the identical terms and conditions of the Offering (the \"Brokered Offering\"). Under the Brokered Offering, Wolverton will assist Windfire on a commercially reasonable efforts basis to find subscribers for 2,000,000 Units at a price of $0.25 per Unit for gross proceeds of $500,000. \n\n\n \n If, on any 20 consecutive trading days occurring after four months and one day has elapsed following the closing date of the Offering and the Brokered Offering, the closing sales price of the common shares (or the closing bid, if no sales were reported on a trading day) as quoted on the TSX Venture Exchange (\"TSXV\") is greater than $0.50 per common share, Windfire may provide notice in writing to the holders of the warrants by the issuance of a press release that the expiry date of the warrants will be accelerated to the 30th day after the date on which Windfire issues such press release.\n\n\n \nIn consideration for its services under the Brokered Offering, Wolverton will receive a commission equal to 8% of the gross proceeds received from the sale of Units, payable in cash, Units or any combination thereof at the discretion of Wolverton. Windfire will also grant to Wolverton an agent's option (\"A...

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