/NOT FOR DISTRIBUTION TO
Each unit shall consist of one common share and one non-transferable common share purchase warrant. Each warrant entitles the holder to acquire one share at an exercise price of
The Company intends to use the net proceeds of the private placement means for working capital, including due diligence expenses on potential acquisition opportunities.
The Company is engaged in negotiations with the Government of
All securities to be issued in connection with the private placement will be subject to a four-month hold period from the closing date under applicable securities laws in
At the closing of this private placement, it is anticipated that the Company will have approximately 23 million shares outstanding.
The securities being offered under the Private Placement have not been, nor will they be registered under the United States Securities Act of 1933, as amended, or state securities laws and may not be offered or sold within
On behalf of the Board of Directors of
President
Neither the
This press release contains forward-looking statements within the meaning of applicable securities laws. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words or statements that certain events or conditions "may" or "will" occur, including, without limitation, estimated revenues. Forward-looking statements in this press release include statements about entering a Letter of Intent, the planned use of proceeds of the Private Placement and regulatory approval to the Private Placement. Forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include, without limitation, that the Company does not enter a Letter of Intent or receive final regulatory approval to the Private Placement. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The forward-looking statements contained in this press release are made as of the date hereof, and the Company undertakes no obligation to update publicly or revise any forward-looking statements, whether because of new information, future events or otherwise, unless so required by law.
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