Financings
Global UAV closes 850,000-unit private placement
UAV · Price
Executive Summary
- Global UAV Technologies Ltd. closed a non‑brokered private placement of 850,000 units at C$0.105 per unit.
- Each unit includes one common share and one warrant to purchase an additional share at C$0.135 for two years post‑closing.
- Gross proceeds amount to approximately C$89.25 million, earmarked for general working capital and debt repayment; an insider subscribed for 250,000 units under exempt MI 61‑101 provisions.
Key Details
- Units Issued: 850,000
- Price per Unit: C$0.105 (10.5 cents)
- Composition of Each Unit: 1 common share + 1 warrant (exercise price C$0.135, two‑year term).
- Gross Proceeds: ≈ C$89.25 million (850,000 × C$0.105).
- Use of Proceeds: General working capital and payment of debt.
- Statutory Hold Period: Securities subject to a hold period expiring 4 months + 1 day after closing.
- Insider Participation: One insider subscribed for 250,000 units (≈ 29.4% of total units).
- Regulatory Exemptions: Insider transaction qualifies as a related‑party transaction under MI 61‑101 but is exempt from valuation and minority‑shareholder approval requirements because:
- Shares are not listed on a specified market (Section 5.5(b)).
- Fair market value of consideration does not exceed 25% of the company’s market capitalization (Section 5.7(a)).
Notable Quotes
No direct quotes were provided in the release.