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Duckworth Capital Corp. Announces Offering
Toronto, Ontario--(Newsfile Corp. - October 2, 2018) - Duckworth Capital Corp. (TSXV: DUKE) ("...
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[{"type":"text","content":"Duckworth Capital Corp. Announces OfferingToronto, Ontario--(Newsfile Corp. - October 2, 2018) - Duckworth Capital Corp. (TSXV: DUKE) (\"Duckworth\" or the \"Company\"), a capital pool company listed on the TSX Venture Exchange (the \"Exchange\") and GoldSpot Discoveries Inc. (\"GoldSpot\") are pleased to announce that further to the Company's press release of June 21, 2018, with respect to entering into a definitive agreement (the \"Amalgamation Agreement\") in connection with its qualifying transaction (the \"Qualifying Transaction\"), GoldSpot has finalized the terms of its brokered private placement (the \"Offering\") to be led by Canaccord Genuity Corp. and include a syndicate of Haywood Securities Inc. (together, the \"Agents\").The Agents have been engaged by GoldSpot as agents for the Offering of up to 362,538 subscription receipts (the \"Subscription Receipts\") at a price of $16.55 per Subscription Receipt (the \"Issue Price\") for gross proceeds of up to $6,000,004. GoldSpot has granted to the Agents an option (the \"Agents' Option\"), exercisable by the Agents up to 48 hours prior to the closing of the Offering (the \"Closing Date\"), to arrange for the purchase of up to an additional approximately 25% (a total of up to 90,635 Subscription Receipts) of the maximum number of Subscription Receipts that may be sold under the Offering at the Issue Price. If the Agent's Option is exercised in full, the total gross proceeds of the Offering shall be up to approximately $7,500,013. Each Subscription Receipt will be automatically converted, without payment of any additional consideration and without further action on the part of the holder thereof, for one common share in the capital of GoldSpot (each, a \"GoldSpot Share\") upon satisfaction of the Escrow Release Conditions (as defined below), subject to adjustment in certain events. The GoldSpot Shares issued upon conversion of the Subscription Receipts will be exchanged for common shares (each, a \"Resulting Issuer Share') of the issuer resulting from the Qualifying Transaction (the \"Resulting Issuer\") on the same terms as any other GoldSpot Share in connection with the Qualifying Transaction. In connection with the Offering, GoldSpot has agreed to pay the Agents a cash commission (the \"Cash Commission\") equal to 8% of the gross proceeds of the Offering (provided that t...