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Wednesday, April 30, 2014 7:13:33 AM
Effective April 10, 2014, we entered into private placement agreements with 14 people. Pursuant to the agreements, we agreed to the issuance of an aggregate of 4,075,000 units at a purchase price of USD$0.20 per unit, for total proceeds of $815,000. Each unit consists of one common share and one whole common share purchase warrant. Each whole common share purchase warrant is exercisable into one share at a price of USD$0.37 per share for a period of the 60 months from the date of closing or five business days after our company’s common stock closes at a price at or above $2.50 per share for seven consecutive trading days on the FINRA Over-the-Counter Bulletin Board.
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