Business
Africa Hydrocarbons Closes Non Brokered Placement And Grants Stock Options
(via TheNewswire) Calgary, Alberta / TheNewswire / November 8, 2017 - Africa Hydrocarbon...
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[{"type":"text","content":"Africa Hydrocarbons Closes Non Brokered Placement And Grants Stock Options(via TheNewswire)\n\n \nCalgary, Alberta / TheNewswire / November 8, 2017 - Africa Hydrocarbons Inc. (NFK.H: NEX | KNPRF: PNK | KRL1: STU) (\"AHI\" or the \"Company\") announces that it has received NEX / TSX Venture Exchange acceptance and closed its non-brokered private placement (the \"Private Placement\") originally announced October 27, 2017. The Company issued 450,816 common shares (\"Common Shares\") at a price of CAD$0.61 per Common Shares, raising gross proceeds of approximately CAD$275,000. \n\n \n \nThe securities issued by the Company in this Private Placement are subject to a statutory hold period which expires on March 9, 2018.\n\n \n \nFinders' fees totaling CAD$19,250 in cash and a finder's warrant to acquire up to 31,557 Common Shares were paid to Smaller Capital Company Ltd. in respect of subscribers incidental to the Private Placement in accordance with the policies of the NEX / TSX Venture Exchange. The finder's warrants are exercisable at a price of CAD$0.61 for a period of 12 months from closing.\n\n \n \nThe net proceeds from the Private Placement will be used in connection with continued operations of the Company and examining what financial and strategic alternatives may be available to the Company and towards general and administrative expenses. \n\n\n \nStock Options\n\n\n \nAHI also announces the grant of options to certain directors of the Company to acquire a total of 434,080 Common Shares at an exercise price of CAD$0.52 per share. The options expire ten years from the date of grant.\n\n\n \nAbout the Company \n\n \n \nAfrica Hydrocarbons Inc. is a Canadian based Issuer listed on the NEX board of the TSX Venture Exchange. As per the Company's September 27, 2017 press release, the Company is seeking to complete a \"change of business\" transaction (a \"COB Transaction\") in accordance with the policies of the TSX Venture Exchange (the \"Exchange\"), that would allow it to graduate from the NEX and back up to the Exchange. The preference of management of AHI would be to complete a COB Transaction that would transform the Company into a technology company, with a focus on blockchain technologies, digital currency mining, data centers, hosting facilities, software and services, or the like. If the Company can identify those asset...