FORM 51-102F3
MATERIAL CHANGE REPORT
Item 1. Name and Address of Company
CVR Medical Corp. (the "Company" or "CVR Medical"))
4664 Sierra View Drive
Denver, North Carolina 28037
Item 2. Date of Material Change
June 18, 2018, as described below.
Item 3. News Release
A news release dated June 21, 2018 relating to the material change described herein was disseminated through Stockwatch.
Item 4. Summary of Material Change
The Company closed the final tranche of a private placement of units for aggregate proceeds of $684,158.
Item 5.1 Full Description of Material Change
The Company closed the final tranche (the "Final Tranche") of its previously announced non-brokered private placement financing (the "Financing").An aggregate of 1,710,395 units ("Units") at a price of $0.40 per Unit were issued in the Final Tranche for gross proceeds of $684,158.Proceeds from the Financing will be used for ongoing working capital requirements relating to the Joint Venture described below, specifically in regards to FDA applications and clinical trials.
Each Unit consists of one common share of CVR Medical (each, a "Share") and one-half of one transferable common share purchase warrant (each, whole warrant, a "Warrant"). Each Warrant is exercisable at a price of $0.70 until June 18, 2019.
In the Final Tranche closing, CVR Medical paid finder's fees of 6% cash and 6% compensation warrants (the "Compensation Warrants") comprised of a cash commission of $27,414.72 and a total of 102,805 Compensation Warrants. The Compensation Warrants have substantially the same terms as the Warrants but are not transferable. The Shares, the Warrants and the Compensation Warrants are subject to a hold period expiring October 19, 2018.
- 2 -
Item 5.2 Disclosure for Restructuring Transactions
Not applicable.
Item 6 Reliance on subsection 7.1(2) of National Instrument 51-102
No information has been omitted in this material change report on the basis that it is
confidential information.
Item 7. Omitted Information
Not applicable.
Item 8. Executive Officer
Further information relating to the Company may be found on www.sedar.com as well as on
the Company's website at www.cvrmed.com or by contacting Peter Bakema, President at
(734) 718-5115.
Item 9. Date of Report
June 28, 2018
All posts are opinion only.
If you wish success for others, then I wish for success to also find you.
Integrity is how you conduct yourself when you are anonymous.
