URBAN COMMUNICATIONS INC. ("UBN")
BULLETIN TYPE: Private Placement-Non-Brokered, Convertible Debenture/s
BULLETIN DATE: October 9, 2014
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced August 14, 2014:
Convertible Debenture $1,227,000
Conversion Price: The Debentures are convertible into units of the Company at a price of $0.10 per unit. Each unit will consist of one common share of the Company and one common share purchase warrant. Each warrant is exercisable to acquire an additional share at $0.20 per share for a period of thirty (30) months from the date of closing of the offering.
Maturity date: 30 months from the closing date
Warrants Each warrant will have a term of thirty (30) months from the date of issuance of the debenture and entitle the holder to purchase one common share. The warrants are exercisable at the price of $0.20 per share.
Interest rate: 8% per annum
Number of Placees: 24 placees
Insider / Pro Group Participation:
Insider=Y /
Name ProGroup=P $ of Debentures
Aggregate Pro Group Involvement P $45,000
[3 placees]
Finder's Fee: $63,840 and 63,840 units payable to Leede Financial Markets Inc.
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.
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