Business
Kombat Copper Inc. amending terms of Offering
VANCOUVER , Oct. 3, 2013 /CNW/ - Kombat Copper Inc. ("Kombat" or the "Company") (TSX.V:...
About this update from Safi Silver Corp.
[{"type":"text","content":"\n\n\nVANCOUVER, Oct. 3, 2013 /CNW/ - Kombat Copper Inc. (\"Kombat\" or the \"Company\") (TSX.V: KBT) announces that further to its news release dated July 29, 2013\n announcing a proposed unit private placement (the \"Offering\"), the\n Offering is expected to result in a change of control under the\n policies of the TSX Venture Exchange (the \"Exchange\") and the Company\n is required to obtain disinterested shareholder approval of the\n Offering. As such, the Company has amended the terms of the Offering to\n provide for the issue of subscription receipts (\"Subscription\n Receipts\") in order to permit the Offering to be completed in escrow\n subject to obtaining requisite shareholder approval.\n\n\nPursuant to the Offering, the Company proposes to issue and sell by\n private placement up to 30,000,00 Subscription Receipts at a price of\n $0.10 per Subscription Receipt for gross proceeds of up to $3,000,000. \n Each Subscription Receipt will be automatically exercisable into one\n unit (a \"Unit\") upon the satisfaction of certain escrow release\n conditions, which shall include: (i) shareholder approval of each of\n the director nominees to be set out in the management information\n circular of the Company, being Scott Kelly, Mike Hoffman, Charles\n Mostert, Bill Nielsen and Duane Parnham, (ii) shareholder approval of\n the creation of a new control person in connection with the exercise of\n the Subscription Receipts, and (iii) receipt of confirmation from the\n Exchange of its final acceptance of the Offering.\n\n\nEach Unit will be comprised of one common share (a \"Share\") and one\n warrant (a \"Warrant\").  Each Warrant will entitle the holder thereof to\n purchase one additional Share (a \"Warrant Share\") at a price of $0.20\n per Warrant Share for a period of three years from the date of closing\n of the Offering. The Warrants if at any time after four months and one\n day from the closing date, the Shares trade at $0.30 per share or\n higher on the Exchange (on a volume weighted adjusted basis) for a\n period of 30 consecutive days, the Company will have the right to\n accelerate the expiry date of the Warrants to the date that is 30 days\n after the Company issues a news release announcing that it has elected\n to exercise this acceleration right.\n\n\nNew Control Persons\n\n\nIn connection with th...