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Alabama Graphite Corp. (CSE:ALP,OTC:ABGPF) entered into an agreement with First Republic Capital Corporation whereby First Republic will act as the Company’s agent to sell: (a) up to 25,000,000 non-flow-through units of the Company at a price of Cdn$0.07 per unit for approximate aggregate proceeds of Cdn$1.75 million; and (b) up to 1,500,000 flow-through units at …
As quoted in the press release:
Each Unit is comprised of: (i) one common share of the Company (a “Unit Share”); and (ii) one common share purchase warrant (a “Unit Warrant”) of the Company, with each Unit Warrant entitling the holder to purchase one common share of the Company at an exercise price of Cdn$0.10 for a period of 36 months from the date of issuance of the Unit (the “Unit Warrant Expiry Date”). If, during the period commencing on the date that is four months and one day following the issuance of the Unit Warrants and ending on the Unit Warrant Expiry Date, the daily volume weighted average trading price of the Company’s common shares on the CSE exceeds Cdn$0.20 for each day for a period of 20 consecutive trading days, then the Company may, from time to time, give the holders of the Unit Warrants written notice of such occurrence within 30 days of such occurrence, in which case the Unit Warrants will expire at 4:00PM (Vancouver time) on the 30th day following the giving of such written notice.
Click here to read the Alabama Graphite Corp. (CSE:,ALP,OTC:ABGPF) press release
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