Zanzibar Gold Inc. Completes Initial Public Offering
20.07.2018 | vom Unternehmen
Mr. Souhail Abi-Farrage reports: Shares listed on the Canadian Securities Exchange (the “CSE”) under the symbol “ZBR” VANCOUVER, July 19, 2018 - Zanzibar Gold Inc. (the “Company”) (CSE: “ZBR”) is pleased to announce the closing of its initial public offering, consisting of a new issue of 4,000,000 units (the “Units”) priced at $0.10 per Unit, for gross proceeds of $400,000. Each Unit consists of one common share in the capital stock of the Company and one transferable common share purchase warrant (a “Warrant”) where each warrant entitles the holder thereof to purchase one common share of the Company for a period of two (2) years from the closing date at a price of $0.15 per common share during the first year and $0.20 per common share during the second year. The Company’s common shares were listed on the CSE under the symbol “ZBR” at market open effective July 18, 2018 and are expected to commence trading on the CSE at market open on July 20, 2018.
PI Financial Corp. (the “Agent”) acted as agent for the initial public offering. The Company has granted the Agent compensation options, exercisable for a period of three (3) years from the date of listing, to purchase up to 320,000 common shares at a price of $0.15 per common share. In addition, the Agent received a commission of 8.0% on the gross proceeds from the Units sold and a corporate finance fee.
ON BEHALF OF THE BOARD, ZANZIBAR GOLD INC.
“Souhail (Abby) Abi-Farrage”
President, Chief Executive Officer and Secretary
Neither Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.