Prospect Park Capital Corp. , announces that as a result of discussions with the TSX Venture Exchange (the “Exchange”), the proposed non-brokered private placement previously announced on December 14, 2020 shall be amended. The Company now intends to complete a non-brokered private placement for gross proceeds of up to $1,000,000 through the issuance of up to 4,761,904 common shares of the Company at $0.21 per share (the “Offering”). The net proceeds of the Offering will be used by the Company for working capital.
In connection with the issue and sale of the shares pursuant to the Offering, the Company will pay registered dealers and finders (i) a cash commission equal to 8% of the aggregate gross proceeds under the Offering, and (ii) non-transferable compensation options to purchase that number of common shares as is equal to 8% of the number of common shares sold under the Offering, at an exercise price of $0.21 per share exercisable for a period of twenty-four (24) months from the closing.
All securities issued pursuant to the Offering are subject to approval of the Exchange and will be subject to a Canadian four-month hold period.
|For more information please contact:||James Greig|
|Chief Executive Officer|
|Prospect Park Capital Corp.|
|Tel: (778) 788-2745|