Business
Giyani Gold Corp. and C Level III Inc. Announce Details of Concurrent Financings in Connection With Qualifying Transaction
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE PUBLICATION, DIST...
About this update from Canoe Mining Ventures Corp.
[{"type":"text","content":"\n\n\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE\n PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN\n WHOLE OR IN PART, IN OR INTO THE UNITED STATES./\n\n\nTORONTO, March 1, 2013 /CNW/ - Further to the press release issued on\n February 4, 2013, Giyani Gold Corp. (TSXV: WDG) (\"Giyani Gold\") and C Level III Inc. (TSXV: CLV.P) (\"C Level\"), a capital pool company under the policies of the TSX Venture\n Exchange Inc. (the \"TSXV\"), are pleased to announce the details of two concurrent financings\n (the \"Offering\") to be carried out in connection with C Level's qualifying transaction\n in accordance with the policies of the TSXV (the \"Qualifying Transaction\"). Pursuant to the Qualifying Transaction, C Level will acquire all of\n the issued and outstanding common shares of 2299895 Ontario Inc. (\"OntarioCo\"), a majority owned subsidiary of Giyani Gold, and subject to TSXV\n approval, the resulting issuer (the \"Resulting Issuer\") will be listed on the TSXV.\n\n\nThe proposed Offering will consist of private placements by C Level (the\n \"C Level Private Placement\") and OntarioCo (the \"OntarioCo Private Placement\") for combined gross proceeds of a minimum of $2-million up to a\n maximum of $4-million.\n\n\nThe C Level Private Placement will include a combination of subscription\n receipts for C Level common shares (the \"C Level Subscription Receipts\") at a price of $0.20 per C Level Subscription Receipt and subscription\n receipts for C Level common shares issued on a \"flow-through\" basis\n (the \"FT Subscription Receipts\") at a price of $0.25 per FT Subscription Receipt. Upon completion of\n the Qualifying Transaction, each C Level Subscription Receipt will\n automatically convert into one common share of the Resulting Issuer (a\n \"Resulting Issuer Share\") and each FT Subscription Receipt will automatically convert into one\n flow-through common share of the Resulting Issuer.\n\n\nThe OntarioCo Private Placement will consist of subscription receipts\n for OntarioCo common shares (the \"OntarioCo Subscription Receipts\") at a price of $1.00 per OntarioCo Subscription Receipt. Upon\n completion of the Qualifying Transaction, each OntarioCo Subscription\n Receipt will automatically convert into five Resulting Issuer Shares.\n\n\nThe Offering will be led by Port...