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Each Unit consists of one common share (a “Common Share”) and one whole share purchase warrant (a “Warrant”). Each Warrant entitles the holder to acquire one additional Common Share of the Company at a price of
In connection with closing of the First Tranche, the Company has paid aggregate cash finder’s fees of
All securities issued pursuant to this Offering will be subject to resale restrictions for a period of four months and one day from closing under applicable securities legislation.
An insider of the Company, who is not a control person, participated in the First Tranche and acquired 400,000 Units. The issuance of Units to such insider pursuant to the Offering (“Insider Participation”) is considered to be a related party transaction within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 (“MI 61-101”). The Company intends to rely on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(a) of Multilateral Instrument 61-101 on the basis that the Insider Participation does not exceed 25% of the fair market value of the Company's market capitalization.
Solarvest’s CEO,
About Solarvest
For further information contact:
Phone: 1.514.898.3488
Email:invest@solarvest.ca
Forward-Looking Information
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the terms of the Offering, the completion of the Offering and the expected use of the net proceeds received by the Company. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; and regulatory risks. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information contained in this news release is expressly qualified in its entirety by this cautionary statement. The Company does not undertake to update any forward-looking information, except as required by applicable securities laws.
Neither the
None of the securities of Solarvest have been registered under the
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