Each Unit is comprised of one common share of the
The proceeds from the sale of the Units are intended to be used to settle certain outstanding indebtedness of the Company and for general working capital purposes. No finders fees were issued under the Private Placement.
The Private Placement is subject to final acceptance by the
Multilateral Instrument 61-101
Under the Private Placement, the following insiders of the Company purchased Units:
Early Warning Disclosure
Terrylene Penstock acquired ownership of 1,965,000 Units under the Private Placement. Prior to the Private Placement, Terrylene Penstock held 2,940,015 Shares, which represented approximately 6.52% of the issued and outstanding Shares of the Company. After giving effect to the Private Placement Terrylene Penstock beneficially owns and controls a total of 4,905,015 Shares, 1,965,000 Warrants and 300,000 Options. These securities represent 9.99% of the Company's issued and outstanding Shares on a non-diluted basis or 13.96% of the Company's issued and outstanding Shares on a partially diluted basis assuming exercise of Terrylene Penstock's Warrants and Options only. Terrylene Penstock acquired the Units for investment purposes. Terrylene Penstock intends to evaluate her investment in the Company and to increase or decrease her shareholdings from time to time as he may determine appropriate.
Contact:
Email: info@asiabasemetals.com
Cautionary Note Regarding Forward-Looking Statements
Certain disclosure in this release, including statements regarding the Company's intention to carry out the Private Placement and the use of proceeds from the Private Placement constitute 'forward-looking information' within the meaning of Canadian securities legislation. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that the Company believes are reasonable, including that the Company will be able to use the proceeds of the Private Placement as anticipated. However, the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such uncertainties and risks include, among others, inability to use the proceeds from the Private Placement as anticipated. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
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