09/15/2021 | Press release | Distributed by Public on 09/15/2021 07:03
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Price: US$4.25 per Unit
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Price to the Public
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Placement Agent's Fee(1)
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Net Proceeds to the
Corporation(2) |
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Per Unit
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| | | US$ | 4.25 | | | | | US$ | 0.27625 | | | | | US$ | 3.97375 | | |
Total Offering
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| | | US$ | 17,999,999.50 | | | | | US$ | 1,169,999.97 | | | | | US$ | 16,829,999.53 | | |
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NOTICE TO READERS
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| | | | S-1 | | |
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FORWARD-LOOKING INFORMATION
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| | | | S-2 | | |
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CURRENCY PRESENTATION AND EXCHANGE RATE INFORMATION
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| | | | S-3 | | |
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MARKETING MATERIALS
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| | | | S-4 | | |
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DOCUMENTS INCORPORATED BY REFERENCE
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| | | | S-4 | | |
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DOCUMENTS FILED AS PART OF THE REGISTRATION STATEMENT
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| | | | S-5 | | |
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WHERE YOU CAN FIND MORE INFORMATION
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| | | | S-5 | | |
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THE CORPORATION
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| | | | S-6 | | |
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RECENT DEVELOPMENTS
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| | | | S-6 | | |
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USE OF PROCEEDS
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| | | | S-7 | | |
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PLAN OF DISTRIBUTION
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| | | | S-8 | | |
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DESCRIPTION OF SECURITIES BEING DISTRIBUTED
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| | | | S-9 | | |
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CONSOLIDATED CAPITALIZATION
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| | | | S-10 | | |
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PRIOR SALES
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| | | | S-11 | | |
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TRADING PRICE AND VOLUME
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| | | | S-12 | | |
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CERTAIN CANADIAN FEDERAL INCOME TAX CONSIDERATIONS
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| | | | S-13 | | |
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CERTAIN U.S. FEDERAL INCOME TAX CONSIDERATIONS
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| | | | S-14 | | |
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RISK FACTORS
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| | | | S-18 | | |
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DIVIDEND POLICY
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| | | | S-21 | | |
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LEGAL MATTERS
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| | | | S-22 | | |
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INTERESTS OF EXPERTS AND AUDITORS
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| | | | S-22 | | |
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TRANSFER AGENT AND REGISTRAR
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| | | | S-22 | | |
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STATUTORY RIGHT OF RESCISSION
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| | | | S-22 | | |
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ENFORCEMENT OF CIVIL LIABILITIES
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| | | | S-23 | | |
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NOTICE TO READERS
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| | | | 1 | | |
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CURRENCY PRESENTATION AND FINANCIAL INFORMATION
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| | | | 3 | | |
|
DOCUMENTS INCORPORATED BY REFERENCE
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| | | | 3 | | |
|
DOCUMENTS FILED AS PART OF THE REGISTRATION STATEMENT
|
| | | | 5 | | |
|
ADDITIONAL INFORMATION
|
| | | | 5 | | |
|
THE CORPORATION
|
| | | | 5 | | |
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SUMMARY DESCRIPTION OF THE CORPORATION'S BUSINESS
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| | | | 6 | | |
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SHARE STRUCTURE
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| | | | 6 | | |
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CONSOLIDATED CAPITALIZATION
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| | | | 6 | | |
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EARNINGS COVERAGE RATIOS
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| | | | 7 | | |
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USE OF PROCEEDS
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| | | | 7 | | |
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DESCRIPTION OF SECURITIES BEING DISTRIBUTED
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| | | | 8 | | |
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OTHER MATTERS RELATING TO THE SECURITIES
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| | | | 16 | | |
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PLAN OF DISTRIBUTION
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| | | | 18 | | |
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CERTAIN FEDERAL INCOME TAX CONSIDERATIONS
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| | | | 19 | | |
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PRIOR SALES
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| | | | 19 | | |
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TRADING PRICE AND VOLUME
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| | | | 20 | | |
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RISK FACTORS
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| | | | 20 | | |
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INTERESTS OF EXPERTS
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| | | | 22 | | |
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ENFORCEABILITY OF CERTAIN CIVIL LIABILITIES
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| | | | 23 | | |
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STATUTORY RIGHT OF RESCISSION
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| | | | 23 | | |
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Six months ended
June 30, 2021 |
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Year ended
December 31, 2020 |
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Year ended
December 31, 2019 |
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(expressed in United States dollars per C$1.00)
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High
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| | | | 0.8306 | | | | | | 0.7863 | | | | | | 0.7699 | | |
Low
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| | | | 0.7795 | | | | | | 0.6898 | | | | | | 0.7353 | | |
Average
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| | | | 0.8023 | | | | | | 0.7461 | | | | | | 0.7537 | | |
Closing
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| | | | 0.8068 | | | | | | 0.7854 | | | | | | 0.7699 | | |
Use of Net Proceeds
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Amount
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Continuing development of product and service offerings
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US$1,000,000
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Potential future acquisitions
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US$14,000,000
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Working capital and general corporate purposes
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US$1,399,999.53
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Total | | |
US$16,399,999.53
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Share Capital
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As at June 30, 2021
before giving effect to the Offering |
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As at June 30, 2021
after giving effect to the Offering |
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Common Shares
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| | | | 25,618,324 | | | | | | 29,853,618 | | |
Stock Options - Legacy Plan
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| | | | 939,600(1) | | | | | | 939,600(1) | | |
Deferred Share Units - Legacy Plan
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| | | | 66,667(2) | | | | | | 66,667(2) | | |
Stock Options - Omnibus Equity Incentive Plan
|
| | | | 790,086(3) | | | | | | 790,086(3) | | |
Restricted Share Units - Omnibus Equity Incentive Plan
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| | | | 176,699(4) | | | | | | 176,699(4) | | |
Warrants
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| | | | nil | | | | | | 2,117,647 | | |
Debt
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| | | US$ | 13,607,818(5) | | | | | US$ | 13,607,818(5) | | |
Date of Issuance
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Security
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Price Per Security
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Number of Securities
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September 16, 2020
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Common Shares(1)
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| | | C$ | 2.20 | | | | | | 2,500 | | |
November 26, 2020
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Common Shares(2)
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| | | C$ | 4.25 | | | | | | 4,705,900 | | |
December 31, 2020
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Common Shares(3)
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| | | C$ | 2.70 | | | | | | 390,003 | | |
January 12, 2021
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Common Shares(4)
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| | | C$ | 2.60 | | | | | | 140,165 | | |
January 22, 2021
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Common Shares(4)
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| | | C$ | 2.60 | | | | | | 28,033 | | |
January 29, 2021
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Common Shares(4)
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| | | C$ | 2.60 | | | | | | 491,402 | | |
February 2, 2021
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Common Shares(4)
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| | | C$ | 2.06 | | | | | | 450,000 | | |
February 11, 2021
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Common Shares(1)
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| | | C$ | 1.20 | | | | | | 33,333 | | |
February 11, 2021
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Common Shares(1)
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| | | C$ | 2.10 | | | | | | 35,000 | | |
February 11, 2021
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Common Shares(1)
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| | | C$ | 1.30 | | | | | | 90,000 | | |
February 11, 2021
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Common Shares(1)
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| | | C$ | 1.20 | | | | | | 16,667 | | |
February 22, 2021
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Common Shares(4)
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| | | C$ | 3.24 | | | | | | 5,372 | | |
February 22, 2021
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Common Shares(4)
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| | | C$ | 3.24 | | | | | | 808 | | |
February 22, 2021
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Common Shares(4)
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| | | C$ | 3.24 | | | | | | 2,686 | | |
February 22, 2021
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Common Shares(4)
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| | | C$ | 3.24 | | | | | | 5,412 | | |
February 23, 2021
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Common Shares(1)
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| | | C$ | 2.20 | | | | | | 3,333 | | |
June 14, 2021
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Common Shares(5)
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| | | | N/A | | | | | | 2,342 | | |
June 14, 2021
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Common Shares(5)
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| | | | N/A | | | | | | 1,168 | | |
June 14, 2021
|
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Common Shares(5)
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| | | | N/A | | | | | | 1,345 | | |
June 14, 2021
|
| |
Common Shares(5)
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| | | | N/A | | | | | | 4,371 | | |
June 14, 2021
|
| |
Common Shares(5)
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| | | | N/A | | | | | | 704,724 | | |
June 14, 2021
|
| |
Common Shares(5)
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| | | | N/A | | | | | | 3,168 | | |
June 14, 2021
|
| |
Common Shares(5)
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| | | | N/A | | | | | | 2,426 | | |
June 14, 2021
|
| |
Common Shares(5)
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| | | | N/A | | | | | | 901 | | |
June 14, 2021
|
| |
Common Shares(5)
|
| | | | N/A | | | | | | 895 | | |
June 14, 2021
|
| |
Common Shares(5)
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| | | | N/A | | | | | | 3,346 | | |
June 14, 2021
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| |
Common Shares(5)
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| | | | N/A | | | | | | 2,426 | | |
Total: | | | | | | | | | | | | | | 7,127,726 | | |
Date of Issuance
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Security
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Exercise Price
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Number of Securities
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June 11, 2021
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Stock Options(1)
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| | | C$ | 8.84 | | | | | | 721,500 | | |
June 11, 2021
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Stock Options(1)
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| | | C$ | 8.93 | | | | | | 68,586 | | |
Total: | | | | | | | | | | | | | | 790,086 | | |
Date of Issuance
|
| |
Security
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Number of Securities
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June 11, 2021
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Restricted Share Units(1)
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| | | | 998,378 | | |
Total: | | | | | | | | 998,378 | | |
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High
(C$) |
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Low
(C$) |
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Volume
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September 2020
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| | | | 4.15 | | | | | | 3.60 | | | | | | 134,862 | | |
October 2020
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| | | | 5.48 | | | | | | 3.80 | | | | | | 487,695 | | |
November 2020
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| | | | 5.22 | | | | | | 3.99 | | | | | | 892,950 | | |
December 2020
|
| | | | 6.50 | | | | | | 4.10 | | | | | | 999,371 | | |
January 2021
|
| | | | 8.24 | | | | | | 5.42 | | | | | | 798,977 | | |
February 2021
|
| | | | 7.10 | | | | | | 5.99 | | | | | | 1,019,048 | | |
March 2021
|
| | | | 7.01 | | | | | | 6.02 | | | | | | 967,647 | | |
April 2021
|
| | | | 7.70 | | | | | | 6.37 | | | | | | 442,406 | | |
May 2021
|
| | | | 9.79 | | | | | | 8.00 | | | | | | 2,163,794 | | |
June 2021
|
| | | | 9.10 | | | | | | 8.50 | | | | | | 744,515 | | |
July 2021
|
| | | | 9.05 | | | | | | 7.86 | | | | | | 552,733 | | |
August 2021
|
| | | | 8.10 | | | | | | 5.42 | | | | | | 1,769,410 | | |
September 1 - 10, 2021
|
| | | | 6.25 | | | | | | 5.65 | | | | | | 344,565 | | |
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NOTICE TO READERS
|
| | | | 1 | | |
|
CURRENCY PRESENTATION AND FINANCIAL INFORMATION
|
| | | | 3 | | |
|
DOCUMENTS INCORPORATED BY REFERENCE
|
| | | | 3 | | |
|
DOCUMENTS FILED AS PART OF THE REGISTRATION STATEMENT
|
| | | | 5 | | |
|
ADDITIONAL INFORMATION
|
| | | | 5 | | |
|
THE CORPORATION
|
| | | | 5 | | |
|
SUMMARY DESCRIPTION OF THE CORPORATION'S BUSINESS
|
| | | | 6 | | |
|
SHARE STRUCTURE
|
| | | | 6 | | |
|
CONSOLIDATED CAPITALIZATION
|
| | | | 6 | | |
|
EARNINGS COVERAGE RATIOS
|
| | | | 7 | | |
|
USE OF PROCEEDS
|
| | | | 7 | | |
|
DESCRIPTION OF SECURITIES BEING DISTRIBUTED
|
| | | | 8 | | |
|
OTHER MATTERS RELATING TO THE SECURITIES
|
| | | | 16 | | |
|
PLAN OF DISTRIBUTION
|
| | | | 18 | | |
|
CERTAIN FEDERAL INCOME TAX CONSIDERATIONS
|
| | | | 19 | | |
|
PRIOR SALES
|
| | | | 19 | | |
|
TRADING PRICE AND VOLUME
|
| | | | 20 | | |
|
RISK FACTORS
|
| | | | 20 | | |
|
INTERESTS OF EXPERTS
|
| | | | 22 | | |
|
ENFORCEABILITY OF CERTAIN CIVIL LIABILITIES
|
| | | | 23 | | |
|
STATUTORY RIGHT OF RESCISSION
|
| | | | 23 | | |