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First Light Capital Announces Increase to Non-Brokered Private Placement
VANCOUVER, BC / ACCESSWIRE / June 16, 2020 / First Light Capital Corp. ("First Light" or the "Company")(TSX.V:XYZ.P) is pleased to announce that due to interest from potential investors its previously announced non-brokered private placement (the "Offering") has been increased by $385,000, or an additional 3,850,000 common shares (each, a "Share"), to an aggregate total of 18,000,000 Shares at a price of $0.10 per Share for aggregate gross proceeds of up to $1,800,000. The terms of the Offering otherwise remain as previously disclosed.
The Company expects to use the proceeds from the Offering for the purpose of identifying and evaluating assets or businesses suitable for a Qualifying Transaction (as defined in the policies of the TSX Venture Exchange (the "Exchange")), and for the costs of obtaining any approvals required for a Qualifying Transaction.
Finder's fees may be payable in connection with the Offering in accordance with the policies of the Exchange. In addition, the Company announces that it intends to sell Shares to one or more insiders in the Offering. The issuance of Shares to any insider in the Offering will be a related party transaction within the meaning of Exchange Policy 5.9 and Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company intends to rely on exemptions from the formal valuation and minority approval requirements provided by Sections 5.5 and 5.7 of MI 61-101 in respect of such insider participation.
All securities issued in connection with the Offering will be subject to a statutory hold period expiring four months and one day after closing of the Offering. Completion of the Offering is subject to a number of conditions, including receipt of all regulatory approvals, including approval of the Exchange.
None of the securities to be issued in connection with the Offering will be or have been registered under the United States Securities Act of 1933, as amended (the "1933 Act"), and none may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act. This press release is being issued pursuant to Rule 135c of the 1933 Act and shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of the securities, in any state where such offer, solicitation or sale would be unlawful.
CONTACT:
James Currie
Chief Executive Officer and director
FIRST LIGHT CAPITAL CORP.
1090 - 510 Burrard Street
Vancouver, BC
Canada, V6C 3B9
Tel: 604-569-2209
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: First Light Capital Corp.
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https://www.accesswire.com/594056/First-Light-Capital-Announces-Increase-to-Non-Brokered-Private-Placement
