KAROO EXPLORATION CORP. ("KE")
BULLETIN TYPE: Private Placement-Non-Brokered
BULLETIN DATE: October 16, 2013
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced September 20, 2013:
Number of Shares: 4,241,000 shares
Purchase Price: $0.08 per share
Warrants: 2,120,500 share purchase warrants to purchase 2,120,500 shares
Warrant Exercise Price: $0.15 for a two year period
Number of Placees: 17 placees
Insider / Pro Group Participation:
Insider=Y /
Name ProGroup=P # of Shares
Robert Dzisiak Y 300,000
Sidney Soronow Y 250,000
James Walchuck Y 300,000
Ryan Walchuck Y 300,000
Aggregate Pro Group Involvement P 100,000
[1 placee]
Finders' Fees: $6,879.60 payable to Macquarie Private Wealth Inc., with 85,995 warrants exercisable at $0.15 for two years.
$3,675 payable to Navigator Capital Partners Inc., with 43,750 warrants exercisable at $0.15 for two years.
$5,000 payable to Jescorp Capital Inc. (Michael Wilson), with 62,500 warrants exercisable at $0.15 for two years.
$1,750 payable to Kyle Capital Corp. (Kyle Johnston), with 21,875 warrants exercisable at $0.15 for two years.
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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