SOPerior Announces Private Placement Financing
10 Septiembre 2021 - 6:39PM
SOPerior Fertilizer Corp. (“
SOP”
or the “
Company”) (NEX: SOP.H) is
pleased to announce that it intends to offer for sale, on a
non-brokered private placement basis, securities of the Company
(the “
Offering”) consisting of units (the
“
Units”) at a price of $0.025 per Unit, for
aggregate proceeds of up to $500,000.
Each Unit is comprised of one common share of
the Company and one Share purchase warrant (a
“Warrant”), with each Warrant being exercisable to
acquire one common share at a price of $0.05 per share for a period
of 12 months from the date of closing of the Offering. Assuming the
maximum proceeds are raised, the Company will issue 20,000,000
Shares and 20,000,000 Warrants.
The Offering is subject to the final approval of
the TSXV and all regulatory approvals.
The Company is relying on the temporary relief
measures announced by the TSXV on April 8, 2020, as extended on
September 16, 2020 (the “Temporary Relief”) in
offering the Units at a price that is less than $0.05 per share.
Pursuant to the Temporary Relief, an issuer may not issue more than
100% of the issued and outstanding Shares as of April 7, 2020 (the
“Temporary Relief Cap”). The Company will not
issue more Shares than the Temporary Relief Cap permitted under the
Offering. All securities issued under the Temporary Relief will be
subject to a TSXV hold period of four months plus one day and will
be legended accordingly.
In connection with this offering, the Company
may pay finders’ fees in cash of up to 6% of the gross
proceeds.
The proceeds from the Offering will be used to
pay certain expenses of the Company including trade payables,
professional fees and general and administrative expenses. The
proceeds of the Offering will not primarily be used to pay
management fees or for investor relations activities.
There can be no assurances that the Offering
will be completed on the terms set out herein, or at all, or that
the proceeds of the Offering will be sufficient for the purposes
set out herein.
Subject to the approval by the TSXV, it is
anticipated that the closing of the Offering will occur on or about
September 15, 2021.
On Behalf of the Board of Directors
SOPERIOR FERTILIZER CORP.
“Andrew Squires”Chief Executive Officer
Contact Information E-mail
inquiries: info@SOPfertilizer.comP: (403)
850-0422www.SOPfertilizer.com
NEITHER THE NEX OR THE TSX VENTURE
EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (as that
term is defined in policies of the TSX Venture Exchange)
ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS
RELEASE.
FORWARD LOOKING STATEMENTS:
This news release contains forward-looking statements, which relate
to future events or future performance and reflect management's
current expectations and assumptions. Such forward-looking
statements reflect management’s current beliefs and are based on
assumptions made by and information currently available to the
Company. Investors are cautioned that these forward looking
statements are neither promises nor guarantees, and are subject to
risks and uncertainties that may cause future results to differ
materially from those expected. These forward-looking statements
are made as of the date hereof and, except as required under
applicable securities legislation, the Company does not assume any
obligation to update or revise them to reflect new events or
circumstances. All of the forward-looking statements made in this
press release are qualified by these cautionary statements and by
those made in our filings with SEDAR in Canada (available at
www.sedar.com).
Soperior Fertilizer (TSXV:SOP.H)
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