Business
SolidusGold Inc. Announces Closing of Private Placement
VANCOUVER, BC--(Marketwired - February 09, 2018) - SolidusGold Inc. (the "Company") (TSX VENTURE: SDC)is pleased to announce that it has completed its previousl
About this update from Valhalla Metals Inc.
[{"type":"text","content":"VANCOUVER, BC--(Marketwired - February 09, 2018) - SolidusGold Inc. (the \"Company\") (TSX VENTURE: SDC)is pleased to announce that it has completed its previously announced non-brokered private placement for aggregate proceeds of $375,000.06. The Company issued 3,571,429 units (the \"Units\") at a price of $0.105 per Unit. Each Unit is comprised of one common share (each, a \"Share\") of the Company and one transferable common share purchase warrant (each, a \"Warrant\"). Each Warrant is exercisable at an exercise price of $0.14 per Share until February 9, 2020. All securities issued in connection with the private placement are subject to a hold period that will expire on June 10, 2018. The proceeds from the private placement will be used for the evaluation of potential acquisition transactions, including land and legal due diligence reviews, and for general working capital. The Company paid a total of $9,450 in finder's fees in connection with the private placement. Rick Van Nieuwenhuyse, a director of the Company, purchased 476,191 Units, and Sorin Posescu, a director of the Company purchased 1,057,143 Units through a company controlled by Mr. Posescu under the private placement. Their participation is considered to be a \"related party transaction\" as defined under Multilateral Instrument 61-101 (\"MI 61-101\"). The transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of any securities issued to nor the consideration paid by such persons exceeded $2,500,000. 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 Company were not settled until shortly prior to closing and the Company wished to close on an expedited basis for sound business reasons. Shares for Debt Transactions The Company is pleased to announce that it has completed its previously announced shares for debt transaction. The Company issued 222,753 shares at a deemed issue price of US$0.12 per share in settlement of an outstanding debt in the amount of US$26,730.38 owing to an arm's length party. All shares issued under the shares for debt transaction are subject to a four month hold period that will expire on May 3...