SAN MARCO RESOURCES INC. ("SMN")
BULLETIN TYPE: Private Placement-Non-Brokered
BULLETIN DATE: April 16, 2014
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced March 11, 2014:
Number of Shares: 8,000,000 shares
Purchase Price: $0.05 per share
Warrants: 8,000,000 share purchase warrants to purchase 8,000,000 shares
Warrant Exercise Price: $0.05 for a one year period; and
$0.10 in the second and third years
The warrants have an acceleration provision such that the expiry date can be reduced to 30 calendar days after notice thereof, if the closing price of the common shares equals or exceeds $0.20 for 15 consecutive trading days after the expiry of the four month restricted resale period.
Number of Placees: 22 placees
Insider / Pro Group Participation:
Insider=Y /
Name ProGroup=P # of Shares
R. Stuart Angus Y 2,760,000
Aggregate Pro Group Involvement P 2,015,000
[7 placees]
Finder's Fee: Haywood Securities Inc. receive $16,590
Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company must issue a news release announcing the closing of the private placement and setting out the expiry dates of the hold period(s). The Company must also issue a news release if the private placement does not close promptly. [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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