SAN MARCO RESOURCES INC. ("SMN")
BULLETIN TYPE: Private Placement-Non-Brokered
BULLETIN DATE: January 29, 2015
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced October 24, 2014, and December 18, 2014:
Number of Shares: 12,967,500 shares
Purchase Price: $0.05 per share
Warrants: 12,967,500 share purchase warrants to purchase 12,967,500 shares
Warrant Exercise Price: $0.05 for a one year period
$0.10 in the second year
$0.15 in the third year
The warrants have an accelerated expiry provision such that the expiry date can be reduced to 20 trading days after notice, if the closing price of the common shares for 15 consecutive trading days after the expiry date of the four month restricted resale period equals or exceeds $0.20 in the first year, $0.25 in the second year, or $0.30 in the third year.
Number of Placees: 43 Placees
Insider / Pro Group Participation:
Insider=Y /
Name ProGroup=P # of Shares
R.S. (Tookie) Angus Y 2,000,000
Andrew B. Carstensen Y 187,500
Barbara Henderson Y 100,000
William H. Myckatyn Y 200,000
Robert D. Willis Y 300,000
Aggregate Pro Group Involvement P 4,300,000
[13 Placees]
Finder's Fee: Haywood Securities Inc. receives $20,825, 248,500 units with the same terms as the above private placement, and 950,000 non-transferable warrants with the same terms as the warrants above.
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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