Earthworks confirms finance fee
Earthworks Industries Inc. (“the Company” or “EWK”) wishes to report that in connection with the previously announced closing of EWK’s commercially reasonable efforts private placement offering dated November 2, 2023 of an aggregate of 7,500,000 units, EWK paid a corporate finance fee to Haywood Securities Inc., as lead agent under the offering, in the amount of C$120,000, which was paid 25% in cash (in an amount totaling C$36,000, inclusive of taxes) and 75% in the form of units (for a total of 450,000 units), on the same terms as the units sold under the offering.
The Company has also granted 550,000 share purchase options to a director, an advisor and a consultant of the Company. The options will be exercisable until November 30, 2025, at a price of C$0.25 per share.