SELECT SANDS CORP. ("SNS")
BULLETIN TYPE: Private Placement-Non-Brokered, Convertible Debentures
BULLETIN DATE: November 24, 2014
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced November 11, 2014:
Convertible Debenture $595,000
Conversion Price: Convertible into 3,966,666 units at $0.15, with each unit consisting of one common share and one common share purchase warrant.
Maturity date: 18 months from closing
Warrants Each warrant will have a term of 18 months from Maturity date and entitle the holder to purchase one common share. The warrants are exercisable at the price of $0.15.
Interest rate: 15% per annum
Number of Placees: 16 Placees
Finder's Fee: Canaccord Genuity $31,045 cash and 206,667 Broker Warrants payable.
Navigator Capital Partners $3,750 cash and 25,000 Broker Warrants payable.
Richardson GMP Securities $2,205 cash and 14,679 Broker Warrants payable.
Each Broker Warrant is exercisable into one common share at $0.15 for 18 months from closing.
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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