HIGHMARK MARKETING INC. CLOSES FIRST TRANCHE OF NON-BROKERED PRIVATE PLACEMENT
Highmark Marketing Inc. has completed the first tranche of a non-brokered private placement by issuing 999,607 units at a price of 35 cents per unit for gross proceeds of $349,862.45. The private placement, which was announced on June 9, has a total offering of up to 1.5 million units, which are available at a price of 35 cents per unit. Each unit consists of one common share and one full share purchase warrant. Each warrant is non-transferable and is exercisable into one common share for a period of 12 months from the date of issuance at a price of 60 cents per share. The common share and full share purchase warrant are each subject to a hold period expiring on Nov. 8, 2014.
Highmark also announces that, pursuant to the terms and conditions of a non-brokered private placement agreement entered into between Highmark and Wolverton Securities Ltd., and a referral fee agreement entered into between Highmark and Mackie Research Capital Corp., Highmark has paid an aggregate cash commission of $32,086.25 to the agents, representing 10 per cent of the gross proceeds received from subscribers introduced to Highmark by the agents. In addition, Highmark has issued an aggregate of 91,675 non-transferable warrants to the agents, representing 10 per cent of the number of units sold to subscribers introduced to Highmark by the agents. Each agent’s warrant entitles the holder to purchase one share of Highmark at an exercise price of 60 cents until July 7, 2015. The agent warrants will also be subject to a hold period ending on Nov. 8, 2014.
Net proceeds of the first tranche of the private placement will be used for working capital.
We seek Safe Harbor.
Mr. Marc Branson reports