Sonomax 60-million-share private placement

2012-05-30 16:15 ET - Private Placement

The TSX Venture Exchange has accepted for filing the documentation with respect to a brokered private placement announced on April 25, 2012.

Shares: 60 million common shares

Purchase price: five cents per common share

Warrants: 30 million warrants to purchase 30 million common shares

Warrants exercise price: 10 cents per share until May 25, 2015

Placees: 13 placees

Insiders: P.J. Malouf three million; Peter Brennan 6.9 million

Agent's fees: Industrial Alliance Securities Inc. received $153,750 in cash and 3,075,000 non-transferable compensation options each entitling the holder to purchase one common share of the company at a price of 10 cents per share until Nov. 25, 2013.

The company has confirmed the closing of the above-mentioned private placement by way of a press release dated May 28, 2012.