PARA RESOURCES INC. ("PBR")
BULLETIN TYPE: Private Placement-Non-Brokered
BULLETIN DATE: December 8, 2015
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 October 14, 2015:
Number of Shares: 4,169,999 shares
Purchase Price: $0.12 per share
Warrants: 2,309,999 share purchase warrants to purchase 2,309,999 shares
Warrant Exercise Price: $0.18 for an 18 month period, with an acceleration clause.
Number of Placees: 6 Placees
Insider / Pro Group Participation:
Insider=Y /
Name ProGroup=P # of Shares
Lake Forest Development Corp. (Geoff Hampson) Y 1,666,666
Triplet Management Inc. (Larry Timlick) Y 100,000
Finder's Fee: Mackie Research Capital Corporation $7,308 cash and 87,000 warrants payable. Each warrant is exercisable into one common share at $0.18 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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