Business
SiQ Mountain Industries Inc. announces Private Placement
(TheNewswire) Vancouver, British Columbia - TheNewswire - August 15, 2023 - SiQ Mount...
About this update from Siq Mountain Industries Inc
[{"type":"text","content":"SiQ Mountain Industries Inc. announces Private Placement\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Vancouver, British Columbia -\n \n \n TheNewswire - August 15, 2023\n-\n \n SiQ Mountain Industries Inc. (\n \n NEX:SIQ.H\n \n ) (the “\n \n Company\n \n ” or “\n \n SiQ\n \n ”) is pleased to announce that it intends to sell on a\nnon-brokered private placement basis, an aggregate of up to 4,000,000\ncommon shares of the Company (the \"Common Shares\") at a\nprice of C$0.05 per Common Share for gross proceeds of up\nto C$200,000 (the \"Private Placement\").\n \n \n Net proceeds of the Private Placement will be predominantly used to\ninitiate a new strategic business plan  as well as for general\ncorporate and working capital purposes.\n \n \n Completion of the Private Placement will be subject to regulatory\napproval, including the approval of the TSX Venture Exchange and\ncertain other customary conditions including, but not limited to,\nexecution of subscription agreements between the Company and the\nsubscribers. The Common Shares will be offered by way of prospectus\nexemptions in Canada and the Common Shares sold in the Private\nPlacement will be subject to a hold period of four months plus one\nday.\n \n \n The issuance of Common Shares to insiders constitutes a \"related\nparty transaction\", as defined under Multilateral Instrument\n61-101 (\"MI 61-101\"). The transactions will be exempt from\nthe formal valuation and minority shareholder approval requirements of\nMI 61-101 as neither the fair market value of any Common Shares issued\nto, nor the consideration paid, by such persons would exceed 25% of\nthe Company's market capitalization.\n \n \n This news release does not constitute an offer to sell or a\nsolicitation of an offer to buy the securities described herein in the\nU.S., or in any jurisdiction in which such an offer or sale would be\nunlawful. The securities described herein have not been and will not\nbe registered under the U.S. Securities Act of 1933, as amended, or\nany U.S. state securities laws and may not be offered or sold in the\nU.S. or to the account or benefit of a U.S. person or a person in the\nU.S. absent registration or an applicable exemption from the\nregistration requirements.\n \n \n On behalf of the Board ...