LAVAL, Quebec, May 09, 2019 (GLOBE NEWSWIRE) -- Typhoon Exploration Inc. (TSX-V: TYP) (the “Corporation” or “Typhoon”) the Board of Directors has approved a grant of 1,940,000 stock options to its officers, directors, employees and consultants, under the company’s Stock Option Plan.
Each stock option is exercisable at a price of $0.05 per share, for a period of 10 years.
UPDATE FOR THE PRIVATE PLACEMENT COMPLETED ON DECEMBER 28,2018
A non-brokered Private Placement has been closed on December 28,2018, by issuing a total of 1,886,620 flow-through common shares at a price of $0.06 per share, 566,000 common shares at a price of $0,05 and 2,452,620 warrants, for total gross proceeds of CAD $141,500. The securities issued in the Private Placement are subject to a four-month-and-one-day hold period expiring on April 29, 2019, pursuant to applicable securities legislation and the rules of TSX Venture Exchange. Typhoon’s directors subscribed for 14,13 % of the securities in this placement.
Each warrant will entitle its holder to subscribe for one (1) common share of Typhoon at the price of $0.05 per share for a period of thirty-six (36) months following the closing date, until December 28, 2021.
In connection with this Private Placement, Typhoon paid a cash commission of $2,160 to a qualified intermediary in accordance with the policies of the TSX Venture Exchange.
Typhoon has 41,530,469 outstanding shares.
Typhoon’s common shares are listed on the TSX Ventures Exchange under the stock symbol “TYP”.
FOR MORE INFORMATION
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 this release.