Argenta has closed the final tranche of its private placement of units through the issuance of an additional 4,625,000 units for gross proceeds of $185,000. When combined with the previously disclosed first tranche, Argenta issued a total of 55,125,000 units at a price of $0.04 per unit for gross proceeds of $2,205,000.
Each unit comprised one common share and one-half of one common share purchase warrant with each full warrant entitling the holder to purchase an additional common share at a price of $0.10 per share for a period of 18 months from the closing date of the private placement. The securities issued are subject to a four month hold period.
Toll Cross Securities Inc. acted as the exclusive agent in connection with the private placement and received a commission of $132,300 and 3,307,500 broker warrants with each broker warrant being exercisable into one common share at a price of $0.04 per share for a period of 18 months from the closing of the private placement.
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