Only bright spot in it maybe perhaps is that Art's in it for $85,000 of the $481,000
Certain related parties of the Corporation participated in the Debt Settlement. Arthur Halleran, a director
and officer of the Corporation, subscribed for 1,146,667 Debt Units in connection with Debt Settlement for
a total subscription amount of $85,000.
Both sides of the border - Are you two in on it ?
Additionally the Corporation closed a non-brokered private placement financing for aggregate gross
proceeds of USD$235,808 (the "US Offering"). Under the US Offering, the Corporation issued an
aggregate of 4,716,160 units ("US Units"), at a price of USD$0.05 per US Unit. Each US Unit was
comprised of Common Share and one Common Share purchase warrant ("US Warrant"). Each US Warrant
entitles the holder to purchase one Common Share at a price of USD$0.08 for a period of 24 months from
the closing date.
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