LOVITT RESOURCES INC. ("LRC")
BULLETIN TYPE: Private Placement-Non-Brokered
BULLETIN DATE: May 11, 2012
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced March 12, 2012:
Number of Shares: 1,250,000 shares
Purchase Price: $0.40 per share
Warrants: 1,250,000 share purchase warrants to purchase 1,250,000 shares
Warrant Exercise Price: $0.55 for a six month period
Number of Placees: 25 placees
Insider / Pro Group Participation:
Insider=Y /
Name ProGroup=P / # of Shares
Dominic Lapenna Y 12,500
Clifford L. Brown Y 176,750
Scientific Industrial Systems Inc. (Daniel C. Arnold) Y 50,000
Finder's Fee: 7,500 units payable to Michele Morais. Each unit has the same term 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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