SERNOVA CORP. ("SVA")
BULLETIN TYPE: Private Placement-Non-Brokered
BULLETIN DATE: July 12, 2016
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced June 21, 2016, June 27, 2016 and June 29, 2016:
Number of Shares: 16,800,000 shares
Purchase Price: $0.25 per share
Warrants: 16,800,000 share purchase warrants to purchase 16,800,000 shares
Warrant Exercise Price: $0.35 for a two year period. The warrants have an acceleration provision such that if at any time after the expiry of the four month hold period, the 20 day volume weighted average trading price of the common shares exceed $0.50 per share, the Company may give notice to accelerate the expiry date of the warrant to a date which is not less than 30 calendar days after such notice.
Number of Placees: 65 Placees
Insider / Pro Group Participation:
Insider=Y /
Name ProGroup=P # of Shares
Jeffrey A. Bacha Y 40,000
Ralph Deiterding Y 20,000
Frank A. Holler Y 50,000
James Parsons Y 40,000
Philip Toleikis Y 57,000
Aggregate Pro Group Involvement P 860,000
[9 Placees]
Finder's Fee: Echelon Wealth Partners receives $19,075 and 76,300 warrants.
Gravitas Securities Inc. receives $2,800 and 11,200 warrants.
Raymond James Ltd. receives $3,500 and 14,000 warrants.
Aventine Management Group Inc. receives $4,200 and 16,800 warrants.
Richardson GMP receives $5,775 and 23,100 warrants.
Mackie Research Capital Corporation receives $14,175 and 56,700 warrants.
CRG Finance AG receives $52,937.50 and 211,750 warrants.
CMF AG receives $28,000 and 11,200 warrants.
Each non-transferable finder's warrant is exercisable for one share at a price of $0.35 per share for a two year period, subject to acceleration.
Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company issued a news release announcing the closing of the private placement and setting out the expiry dates of the hold periods on June 27, 2016 and June 30, 2016. [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.]
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