Re: Year-end financials
in response to
by
posted on
Mar 31, 2021 06:51PM
No change in what they state regarding Saudi money. Below is from the MD&A.
"In October 2020, we entered into a definitive stock purchase agreement for a private placement of 10,560,000 equity units at a price of CAD$1.25 per unit for gross proceeds of $10.0 million (CAD$13.2 million). Each unit will be comprised of one common share and one common share purchase warrant. Each warrant will be exercisable at a price of CAD$1.50 per share for a period of nine months from the closing of the offering. The units will be subject to a four-month hold period from closing. The private placement is subject to satisfaction of a foreign government’s investment review, customary closing conditions for a transaction of this nature and receipt of all necessary regulatory and stock exchange approvals, and is expected to close in the near future. There can be no assurance that the private placement will be completed."