TARGETED MICROWAVE SOLUTIONS INC. ("TMS.H")
[formerly Targeted Microwave Solutions Inc. ("TMS")]
BULLETIN TYPE: Private Placement-Non-Brokered, Shares for Debt, Transfer and New Addition to NEX, Symbol Change
BULLETIN DATE: January 9, 2020
TSX Venture Tier 1 Company
Private Placement-Non-Brokered:
TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced April 12, 2019 and May 17, 2019:
Number of Shares: 5,000,000 shares
Purchase Price: $0.05 per share
Number of Placees: 3 placees
Pursuant to Corporate Finance Policy 4.1, Section 1.9(e), 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.
Shares for Debt:
TSX Venture Exchange has accepted for filing the Company's proposal to issue 10,000,000 shares to settle outstanding debt for $500,000.
Number of Creditors: 1 Creditor
Insider / Pro Group Participation:
Insider=Y / Amount Deemed Price
Creditor Progroup=P Owing Per Share # of Shares
Clarendon Capital Corp. Y $500,000 $0.05 10,000,000
(Gurminder Sangha)
The Company shall issue a news release when the shares are issued and the debt extinguished.
Transfer and New Addition to NEX, Symbol Change:
In accordance with TSX Venture Policy 2.5, the Company has not maintained the requirements for a TSX Venture Tier 1 company. Therefore, effective Monday, January 13, 2020, the Company's listing will transfer to NEX, the Company's Tier classification will change from Tier 1 to NEX, and the Filing and Service Office will change from to NEX.
As of Monday, January 13, 2020, the Company is subject to restrictions on share issuances and certain types of payments as set out in the NEX policies.
The trading symbol for the Company will change from TMS to TMS.H. There is no change in the Company's name, no change in its CUSIP number and no consolidation of capital. The symbol extension differentiates NEX symbols from Tier 1 or Tier 2 symbols within the TSX Venture market.
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