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Western Troy Announces Non-Brokered Private Placement and Appointment of Director
Toronto, Ontario--(Newsfile Corp. - November 1, 2019) - Western Troy Capital Resources Inc. (N...
About this update from Global Copper Corp
[{"type":"text","content":"Western Troy Announces Non-Brokered Private Placement and Appointment of DirectorToronto, Ontario--(Newsfile Corp. - November 1, 2019) - Western Troy Capital Resources Inc. (NEX: WRY.H) (\"Western Troy\" or the \"Company\") is pleased to announce that it intends to complete a private placement of special warrants (the \"Special Warrants\") at a price of $0.025 per Special Warrant (the \"Purchase Price\") for gross proceeds of up to $500,000 (the \"Offering\"). Each Special Warrant is exchangeable, for no additional consideration, into one-fourth (1/4) of a common share of the Company.The Special Warrants shall be automatically exchanged for Common Shares upon satisfaction of the following conditions (collectively the \"Exercise Conditions\"):the completion of a consolidation of the outstanding common shares of the Company on a 4 (old) common shares for 1 (new) common share (the \"Consolidation\");receipt of approval of the NEX for the Offering and the Consolidation; andreceipt of all regulatory approvals required for the Offering and the Consolidation.Upon completion of the Consolidation, the subscribers will receive one whole common share (each, a \"Common Share\") for each four (4) Special Warrants, resulting in a price of $0.10 per whole Common Share.The Consolidation will need to be approved by a majority of not less than two-thirds of the votes cast by the shareholders at the next meeting (the \"Meeting\") of the shareholders of the Company.The Company shall use its reasonable best efforts to satisfy the Exercise Conditions. In the event that the Exercise Conditions are not satisfied on the date that is six months after the closing date of the Offering, the Special Warrants shall be redeemed at the Purchase Price for the Special Warrants.It is expected that the closing of the Offering will occur on or before November 22, 2019.This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the \"U.S. Securities Act\") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons as defined under applicable United States securities laws unless registered under the U.S. Securities Act and applicable s...