VANCOUVER, British Columbia, Nov. 02, 2017
The Private Placement was approved by the directors of the Company. Aida intends to use the proceeds for the Greenstream acquisition announced in its October 6, 2017 news release, further investment opportunities, and general working capital purposes.
All securities issued in the financing will be subject to a statutory hold period expiring four months and one day after closing of the financing. Completion of the financing is subject to a number of conditions, including, without limitation, receipt of all regulatory approvals, including approval of the Canadian Securities Exchange (the “CSE”).
In addition, Aida has paid finders’ fee in connection with the private placement. The finders were paid an aggregate cash sum of $114,336.00. In addition, the finders were granted an aggregate of 571,680 warrants (the “Finders’ Warrants”) exercisable into 571,680 common shares at a price $0.50 per share for a term of twelve months (12) from the date of closing, subject to the same terms as the Warrant.