TIREX RESOURCES LTD. ("TXX")
BULLETIN TYPE: Private Placement-Non-Brokered
BULLETIN DATE: September 22, 2016
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation with respect to the first tranche of a Non-Brokered Private Placement announced August 23, 2016 and September 21, 2016:
Number of Shares: 10,000,000 shares
Purchase Price: $0.10 per share
Warrants: 5,000,000 share purchase warrants to purchase 5,000,000 shares
Warrant Exercise Price: $0.15 for a one year period. The warrants are subject to an accelerated exercise provision in the event the Company's shares trade at least $0.30 per share for 10 consecutive trading days.
Number of Placees: 12 Placees
Insider / Pro Group Participation:
Insider=Y /
Name ProGroup=P # of Shares
R. Stuart Angus Y 500,000
Fred Sveinson Y 100,000
Shoni Bernard Y 300,000
Aggregate Pro Group Involvement P 300,000
[1 Placee]
Finder's Fee: Skanderbeg Capital Advisors Inc. (Carson Seabolt and Mario Vetro) - 160,000 common shares and 160,000 Finder's Warrants that are exercisable into common shares at $0.15 per share for a 12 month period (subject to the accelerated exercise provision).
Haywood Securities Inc. - 2,400 Finder's Warrants that are exercisable into common shares at $0.15 per share for a 12 month period (subject to the accelerated exercise provision).
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 period(s). 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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