Business
H-Source Announces Brokered Private Placement
H-Source Announces Brokered Private Placement.
About this update from H-source Holdings Ltd
[{"type":"text","content":"\nNot for dissemination in the United States or through U.S. Newswire Services\n VANCOUVER, British Columbia, June 25, 2018 (GLOBE NEWSWIRE) -- H-Source Holdings Ltd. (TSXV:HSI) (OTCQB:HSCHF) (the “Company” or “H-Source”) is pleased to announce that it has engaged Mackie Research Capital Corporation (the “Agent”) as lead agent and sole book-runner on a best-efforts, fully marketed basis for a private placement for a minimum of 6,666,667 common shares of the Company at a price of C$0.15 per common share to raise gross proceeds of up to C$1,000,000 (the “Offering”).  In addition, the Agent has been granted an over-allotment option exercisable 48 hours prior to the closing of the offering to increase the size of the Offering by up to 15%. Proceeds from the Offering will provide funding for general corporate purposes. The closing of the Offering is expected to occur on or about the week of July 16, 2018. Closing is subject to a number of prescribed conditions, including, without limitations, approval of the TSX Venture Exchange. All the securities issued under the Offering are subject to resale restrictions under applicable securities legislation. Offering Jurisdictions The Offering will take place by way of a private placement to qualified investors in such provinces of Canada as the Agent may designate, and otherwise in those jurisdictions where the Offering can lawfully be made under applicable private placement exemptions. Agent’s Compensation On the Closing of the Offering, the Company has agreed to pay to the Agent, subject to certain exclusions, a commission equal to 7.5% of the gross proceeds arising from the Offering, including the exercise of the over-allotment option (if applicable). At the closing of the Offering, the Company will also issue to the Agent, subject to certain exclusions, non-transferable warrants exercisable at any time up to 18 months from closing, to acquire common shares from treasury in an amount equal to 7.5% of the common shares issued pursuant to the Offering, including the exercise of the over-allotment option (if applicable). 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 S...