Business
MPVC Inc. Announces Closing of Private Placement of Units
MPVC Inc. Announces Closing of Private Placement of Units.
About this update from Northern Uranium Corp.
[{"type":"text","content":"\n\n\n\nWINNIPEG, April 27 /CNW/ - MPVC Inc. (the "Corporation") (TSXV: OCI)\nannounced today that it has closed its previously announced private placement\nof units (the "Offering") through Bieber Securities Inc. (the "Agent") as its\nagent. The Corporation sold 1,552,000 units ("Units") at a price of $0.30 per\nUnit for gross proceeds to the Corporation of $465,600. Each Unit is comprised\nof one common share (a "Share") and one-half of a Share purchase warrant (each\nwhole Share purchase warrant, a "Warrant"). Each Warrant entitles the holder\nto acquire one Share at a price of $0.50 at any time for a period of 24 months\nfrom the date of the closing of the Offering.\n\n\nThe Corporation has also sold an additional 392,843 Units at a price of\n$0.30 per Unit on a non-brokered basis for additional proceeds of $117,852.\n\n\nThe net proceeds of the sale of Units will be used for working capital\nand other corporate purposes.\n\n\nAs consideration for the Agent's services, the Agent received the\nfollowing compensation: (i) a commission of $37,260, being 8% of the gross\nproceeds of the Offering; (ii) broker warrants entitling the holder thereof to\nacquire 124,200 Shares, which broker warrants shall have the same terms as the\nWarrants; and (iii) a corporate finance fee of $5,000.\n\n\nThe Shares and Warrants comprising the Units will be subject to a hold\nperiod of four months and one day from the date of the issue of the Units in\naccordance with applicable securities laws and the policies of the TSXV.\n\n\nThe TSX Venture Exchange does not accept responsibility for the adequacy\n\n\nor accuracy of this release.\n\n\n","length":1759,"tagName":"div"}]