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Interlapse Announces Closing of Non-Brokered Private Placement
Interlapse Announces Closing of Non-Brokered Private Placement Canada NewsWire ...
About this update from Lqwd Technologies Corp
[{"type":"text","content":"\n \n \n \n Interlapse Announces Closing of Non-Brokered Private Placement\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n VANCOUVER, BC, Nov. 2, 2020\n \n \n \n \n \n VANCOUVER, BC\n \n ,\n \n Nov. 2, 2020\n \n /CNW/ - Interlapse Technologies Corp. (TSXV: INLA) (OTCQB: INLAF) (\"Interlapse\" or the \"Company\") announces that it has closed its previously announced non-brokered private placement offering raising gross proceeds of\n \n C$735,632\n \n .\n \n \n The Company issued 4,904,212 units at the price of\n \n C$0.15\n \n per unit, each unit consisting of one common share and one non-transferable warrant, each warrant entitling the holder to purchase one additional share (a \"warrant share\") at a price of\n \n C$0.20\n \n per warrant share for a period of 18 months from the date of issue provided that, commencing on\n \n March 2, 2021\n \n , if the closing price of the Company's common shares on the TSX Venture Exchange (the \"TSX-V\"), or any other stock exchange on which the Company's common shares are then listed, is at a price equal to or greater than\n \n C$0.40\n \n for a period of 10 consecutive trading days, the Company will have the right to accelerate the expiry date of the Warrants by giving written notice to the holders of the warrants that the warrants will expire on the date that is not less than 30 days from the date notice is provided by the Company to the warrant holders.\n \n \n In consideration of arranging the private placement, the Company paid finders' fees in the aggregate amount of\n \n C$34,386.24\n \n .\n \n \n A senior officer and a significant shareholder of the Company participated in the private placement by purchasing an aggregate of 500,000 units. Accordingly, the private placement constituted to that extent a \"related party transaction\" under applicable Canadian securities laws. The Company did not file a material change report more than 21 days before the expected closing of the private placement as the details of the private placement and the participation therein by related parties of the Comp...