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Ironhorse Oil & Gas Inc. and Pond Technologies Inc. provide update regarding the concurrent financing of Pond Technologies Inc.
Ironhorse Oil & Gas Inc. and Pond Technologies Inc. provide update regarding the concu...
About this update from Pond Technologies Holdings Inc.
[{"type":"text","content":"\n\n\n\nIronhorse Oil & Gas Inc. and Pond Technologies Inc. provide update regarding the concurrent financing of Pond Technologies Inc.\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.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\nIronhorse Oil & Gas Inc. and Pond Technologies Inc. provide update regarding the concurrent financing of Pond Technologies Inc.\nCanada NewsWire\nCALGARY, Dec. 28, 2017\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS./\n\n\n\nCALGARY, Dec. 28, 2017 /CNW/ - Further to the press release of December 21, 2017, Ironhorse Oil & Gas Inc. (TSX-V:IOG) (\"Ironhorse\") and Pond Technologies Inc. (\"Pond\") are pleased to announce that, in connection with the previously announced business combination of Ironhorse and Pond providing for the acquisition of Ironhorse by Pond by way of a \"three-cornered amalgamation\" (the \"Transaction\"), Pond has closed an equity financing on a non-brokered private placement basis (the \"Interim Private Placement\"). \n\nPursuant to the Interim Private Placement, Pond issued 1,000,000 units at a price of $2.40 per unit for aggregate gross proceeds of $2,400,000.  Each unit is comprised of: (i) one Pond common share; and (ii) one Pond common share purchase warrant, which entitles the holder thereof to purchase one Pond common share at a purchase price of $3.00 and expires 24 months from the date of issuance.  In connection with the Interim Private Placement, a finder's fee comprised of: (i) a cash fee equal to $96,000, being 4% of the total subscription amount; and (ii) 80,000 compensation units, being 8% of the units sold pursuant to the Interim Private Placement, with each such compensation unit entitling the holder thereof to purchase one unit at an exercise price of $2.40 per unit at any time prior to the date that is 24 months from the date of issuance, is payable by Pond to Industrial Alliance Securities Inc. and Hampton Securities Limited.  Each compensation uni...