Earthworks amends terms of private placement
Earthworks Industries Inc. announced in a Press Release dated April 20, 2017, that it was undertaking private placements sales of 6,250,000 Units at $0.20 per Unit – which would include 6,250,000 share purchase warrants exercisable for one year at $0.20. The placements have been over subscribed by an additional 572,300 Units.
The placement terms are being altered to provide that:
a) the original 6,250,000 Warrants will have their exercise price increased to $0.21 per share;
b) the 572,300 over subscribed Units will be sold at $0.20 per Unit but the 572,300 one year share purchase warrants included in them will be exercisable at $0.25 per share.
The 6,822,300 Units which will be sold at $0.20 per Unit will provide Earthworks with proceeds of $1,364,460.