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Chrysalis announces conditional approval and engagement of Macquarie Private Wealth Inc. as financing agent
Chrysalis announces conditional approval and engagement of Macquarie Private Wealth Inc. as finan...
About this update from Aton Resources Inc.
[{"type":"text","content":"\n\n\n\n Jun. 3, 2010 (Canada NewsWire Group) -- /NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE/\n\nTSX Venture Exchange Symbol: SEV.P\n\n Chrysalis Capital VII Corporation ("Chrysalis") is pleased to announce that TSX Venture Exchange (the "Exchange") has conditionally approved its previously announced proposed qualifying transaction (the "Qualifying Transaction") with Alexander Nubia Inc. ("ANI"). A Filing Statement has been prepared in accordance with the requirements of the Exchange and filed on SEDAR. Shareholders are encouraged to go to www.sedar.com to review the Filing Statement.\n"The Exchange's conditional approval represents one of the most important steps in the process of completing the reverse take-over of Chrysalis", remarked ANI's CEO A. (Alexander) Massoud. "We will now re-focus our efforts towards completing the Private Placement; the only significant outstanding condition to closing the Qualifying Transaction."\nChrysalis is also pleased to announce that ANI and Chrysalis have entered into an engagement agreement with Macquarie Private Wealth Inc. ("Macquarie") subject to, among other things, completion of satisfactory due diligence to raise on a commercially reasonable efforts basis up to US$14.5 million (the "Private Placement") in conjunction with the closing of the Qualifying Transaction. Up to 29 million common shares of ANI will be sold at a price of US$0.50 per share. Pursuant to the terms of the agreement, Macquarie will receive a cash commission equal to 7% of the aggregate gross proceeds raised by Macquarie or its sub-agents. Macquarie will also be granted an option to acquire that number of ANI common shares equal to 10% of the total number of ANI commons shares sold by Macquarie or its sub-agents, exercisable at a price of US$0.50 per option for a period of 24 months from the closing. Macquarie is also entitled to be reimbursed for its legal fees and expenses incurred in connection with the financing. ANI intends to use the proceeds of the Private Placement for the continued exploration of the mineral exploration concessions of ANI and for general working capital purposes.\nAdditionally, Chrysalis and ANI have agreed to amend the original Definitive Agreement signed on March 9, 2010 (which outlines...