REGINA, Oct. 17, 2019
/CNW/ - HTC Extraction Systems (also
the "Company" and/or "HTC") (HTC: TSX-V)
announces that it has repriced its "bought deal" brokered private
placement initially announced on July 3,
2019 and amended on September 27,
2019 (the "Offering"). The private placement is being
re-priced to more accurately reflect the current market price of
the Company's common shares (the "Common Shares").
Under the terms of the Offering, Canaccord Genuity Corp. will
act as sole bookrunner and lead underwriter on behalf of a
syndicate of underwriters (collectively, the
"Underwriters"), and purchase, on a "bought deal" private
placement basis, 25,000,000 units of the Company (the
"Units") at a price of C$0.40
per Unit (the "Offering Price") for aggregate gross proceeds
of C$10,000,000.
Each Unit will consist of one Common Share in the capital of the
Company and one-half of one common share purchase warrant (each
whole common share purchase warrant, a "Warrant"). Each
Warrant will be exercisable to acquire one Common Share (a
"Warrant Share") at an exercise price of C$0.70 per Warrant Share for a period of 36
months from the closing of the Offering.
All securities issued or issuable under the Offering will be
subject to a statutory hold period lasting four months and one day
following the closing of the Offering.
The repriced Offering is subject to certain conditions
including, but not limited to, the receipt of all necessary
regulatory approvals, including the conditional approval of the TSX
Venture Exchange. The Offering is expected to close on or about
October 22, 2019.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION
SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE
TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THE RELEASE.
HTC corporate developments can be followed on
www.htcextraction.com and is traded under the symbol HTC.
The securities being offered have not been, nor will they be,
registered under the United States Securities Act of 1933, as
amended and may not be offered or sold In the United States or to, or for the account of
benefit of, US persons absent registration or an applicable
exemption from the registration requirements. This news release
shall not constitute an offer to sell or the solicitation of an
offer to buy nor shall there be any sale of the securities in any
State in which such offer, solicitation or sale would be
unlawful.
This press release contains "forward-looking statements" or
"forward-looking information" (collectively referred to herein as
"forward-looking statements") within the meaning of applicable
securities legislation. Such forward- looking statements include,
without limitation, forecasts, estimates, expectations and
objectives for future operations that are subject to a number of
assumptions, risks and uncertainties, many of which are beyond the
control of HTC. Forward-looking statements are statements that are
not historical facts and are generally, but not always, identified
by the words "expects", "plans", "anticipates", "believes",
"intends", "estimates", "projects", "potential" and similar
expressions, or that events or conditions "will", "would", "may",
"could" or "should" occur or be achieved. This press release
contains forward-looking statements pertaining to, among other
things, the timing and ability of the Corporation to close the
Offering, if at all and the timing and ability of the Corporation
to satisfy the listing conditions of the TSX Venture
Exchange.
Forward-looking information is based on current expectations,
estimates and projections that involve a number of risks, which
could cause actual results to vary and in some instances to differ
materially from those anticipated by HTC and described in the
forward-looking information contained in this press
release.
Although HTC believes that the material factors, expectations
and assumptions expressed in such forward-looking statements are
reasonable based on information available to it on the date such
statements were made, no assurances can be given as to future
results, levels of activity and achievements and such statements
are not guarantees of future performance.
SOURCE HTC Extraction Systems
