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Technical Ventures Announces Financing and Provides an Update on its Qualifying Transaction
(via Thenewswire.ca) Vancouver, British Columbia / TNW-ACCESSWIRE / June 5, 2014 - Te...
About this update from Hemostemix Inc
[{"type":"text","content":"Technical Ventures Announces Financing and Provides an Update on its Qualifying Transaction(via Thenewswire.ca)\n\n \nVancouver, British Columbia / TNW-ACCESSWIRE / June 5, 2014 - Technical Ventures RX Corp. (\"Technical\") (TSX-V: \"TIK.P\") announces the following updates in connection with its Qualifying Transaction, as previously announced on May 14, 2013, July 25, 2013, October 31, 2013, February 24, 2014, and March 10, 2014. Technical has entered into a letter of engagement with Wolverton Securities Ltd. (\"Wolverton\"), in connection with a proposed brokered equity financing (the \"Offering\"). The Offering is expected to be completed pursuant to TSX Venture Exchange Policy 4.6 Public Offering by Short Form Offering Document (\"TSX-V Policy 4.6\"). A short form offering document will be prepared and filed by Technical pursuant to TSX-V Policy 4.6 in due course. Under the Offering, Wolverton will assist Technical on a commercially reasonable efforts basis, to find subscribers for a minimum of 10,000,000 common shares and up to a maximum of 20,000,000 common shares of Technical at a price of $0.10 per common share (minimum of 2,000,000 common shares and a maximum of up to 4,000,000 common shares at an issue price of $0.50 per common share after giving effect to the Consolidation described below) for minimum gross proceeds of $1,000,000 and maximum gross proceeds of $2,000,000. \n\n \n \nIn consideration for its services under the Offering, Wolverton will receive a commission equal to 8% of the gross proceeds received from the sale of the common shares, payable in cash, common shares or any combination thereof at the discretion of Wolverton. Technical will also grant to Wolverton an agent's option entitling Wolverton to purchase such number of common shares equal to 8% of the aggregate number of common shares sold under the Offering at an exercise price of $0.10 per common share for a period of five years from the date of closing of the Offering. \n\n \n \nWolverton will also be paid a corporate finance fee and will also be reimbursed for all reasonable expenses incurred with respect to the Offering. \n\n \n \nThe Offering will be completed immediately in advance of the plan of arrangement contemplated under the Agreement below. All common shares and agents options to be issued in connection with the Offering will be exchang...