SAVANNAH GOLD CORP. ("SAV.H")
BULLETIN TYPE: Private Placement-Non-Brokered
BULLETIN DATE: Apr 12, 2017
NEX Company
TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced Mar 15, 2017:
Number of Shares: 3,000,000 shares
Purchase Price: $0.20 per share
Warrants: 1,500,000 share purchase warrants to purchase 1,500,000 shares
Warrant Initial Exercise Price: $0.40
Warrant Term to Expiry: 2 Years
Number of Placees: 51 Placees
Insider / Pro Group Participation:
Insider=Y /
Name Pro-Group=P # of Shares
Praveen Varshney Y 45,000
Marco Strub Y 40,000
Aggregate Pro-Group Involvement [10 Placees] P 582,500
Finder's Fee:
PI Financial Corp. $700.00 cash; 3,500 warrants
Leede Jones Gable Inc. $10,500.00 cash; 52,500 warrants
Canaccord Genuity Corp. $2,800.00 cash; 14,000 warrants
Mackie Research Capital Corp. $14,700.00 cash; 73,500 warrants
Haywood Securities Inc. $1,050.00 cash; 5,250 warrants
Finder Warrant Initial Exercise Price: $0.40
Finder Warrant Term to Expiry: 24 months, each exercisable into one common share. The Warrants have an accelerated exercise provision whereby if at any time after the date that is six months and one day from the closing of the private placement, the closing price of the Company's Shares on the TSX Venture Exchange is equal to or greater than $0.80 for 20 consecutive trading days, then the Company may elect to provide notice by news release that the Warrants will expire 30 days from the notice date.
Note that in certain circumstances the Exchange may later extend the expiry date of the warrants, if they are less than the maximum permitted term.
The above information is a summary only. Neither TMX Group Limited nor any of its affiliated companies guarantee the accuracy or completeness of the information contained in this document. Readers should consult the issuer's continuous disclosure record for complete details of the transaction.
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