Business
Manado Opens Brokered Private Placement to Certain Non-Accredited Investors
(via Thenewswire.ca) Vancouver, BC / TheNewswire / February 8, 2016 Manado Gold Corp...
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[{"type":"text","content":"Manado Opens Brokered Private Placement to Certain Non-Accredited Investors(via Thenewswire.ca)\n \n \nVancouver, BC / TheNewswire / February 8, 2016 Manado Gold Corp. (TSX-V: MDO) (the \"Company\") is pleased to provide additional details of the Company's previously announced brokered private placement offering (the \"Offering\") (for additional details see the Company's news release dated January 13, 2016). \n\n \n \nThe Offering will also be opened up to eligible investors who would not otherwise qualify for the \"accredited investor\" prospectus exemption in accordance with the instruments identified in the Multilateral CSA Notice 45-318 - Prospectus Exemption for Certain Distributions through an Investment Dealer.\n\n \n \nThe Company previously entered into a letter of engagement with Mackie Research Capital Corporation (the \"Agent'), whereby the Agent has agreed to act as lead agent on a commercially reasonable efforts basis for the Offering. Completion of the Offering is a condition of the closing of the amalgamation of the Company and RewardStream Solutions Inc. (\"RewardStream\") and is expected to be completed immediately prior to closing of the amalgamation. For additional details see the Company's news release dated September 10, 2015 and the Company's information circular dated January 8, 2016 (the \"Circular\") copies of which are available under the Company's profile on the SEDAR website (\"SEDAR\") at www.sedar.com). \n\n \n \nThe Offering will consist of a brokered private placement financing of 21,440,000 units of the Company (5,360,000 units of the resulting entity post-amalgamation) at a price of $0.07 per unit ($0.28 per unit post-amalgamation), for gross proceeds of $1,500,800. Each unit will consist of one common share and one-half of one common share purchase warrant, with each whole warrant entitling the holder to purchase an additional common share at a price of $0.10 per share ($0.40 per share post-amalgamation) for a period of two years from the date of issuance. \n\n \n \nThe Company plans to use the gross proceeds of the Offering, in order of priority, as follows:\n\n \n\n\nUse of Proceeds\n\n\n\n($)\n\n\n\n\nAgent's Commission - 7% of Gross Proceeds\n\n\n\n\n105,056\n\n\n\n\nSales and Marketing\n\n\n\n\n883,765\n\n\n\n\nGeneral and Administrative Expenses\n\n\n\n\n511,979\n\n\n\n\nTotal\n\n\n\n\n...