MARGARET LAKE DIAMONDS INC. ("DIA")
BULLETIN TYPE: Private Placement-Non-Brokered
BULLETIN DATE: October 26, 2016
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced September 27, 2016:
Number of Shares: 7,850,000 shares
Purchase Price: $0.10 per share
Warrants: 3,925,000 share purchase warrants to purchase 3,925,000 shares
Warrant Exercise Price: $0.30 for a two year period, subject to an acceleration clause.
Number of Placees: 58 Placees
Insider / Pro Group Participation:
Insider=Y /
Name ProGroup=P # of Shares
Buddy Doyle Y 600,000
Aggregate Pro Group Involvement P 500,000
[1 Placee]
Finder's Fee: Mackie Research Capital Corporation $31,320 cash and 522,000 broker units payable.
Canaccord Genuity Corp. $3,000 cash and 50,000 broker units payable.
Each broker warrant is exercisable into units with the same terms as the offering.
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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