- Reflex Advanced Materials Corp. (RFLX) has announced a number of corporate updates
- The first is a non-brokered private placement for gross proceeds of up to C$4,250,000
- The second is the implementation of an equity incentive plan for the company
- The third is the grant of stock options and restricted share units (RSUs) under the equity incentive plan
- Reflex Advanced Materials Corp. is a junior natural resource mining company based in Vancouver, BC Canada
- Reflex Advanced Materials Corp. was down 6.98 per cent, trading at $0.40 at 09:38 ET
Reflex Advanced Materials Corp. (RFLX) has announced a number of corporate updates.
These include a non-brokered private placement for gross proceeds of up to C$4,250,000, the implementation of an equity incentive plan of the company and the grant of stock options and restricted share units (RSUs) under the equity incentive plan.
The company intends to complete a non-brokered private placement consisting of units of the company at a price of $0.40 per unit for aggregate gross proceeds of up to $4,000,000.
Each $0.40 unit is made up of one non-flow-through common share of the company and one non-flow-through common share purchase warrant of the company.
The warrant entitles the holder to acquire one share at a price of C$0.55 per warrant share for a period of twenty-four months.
The second arm of the offering consists of units of the company issued at a price of $0.55 per unit for aggregate gross proceeds of up to C$250,000.
Each $0.55 unit consists of one flow-through common share and one non-flow-through warrant entitling the holder to acquire one warrant share at a price of C$0.65 per warrant share for a period of twenty-four months.
The company also announces that the board of directors of the company has approved the adoption of an equity incentive plan and reserved common shares of the company for issuance under the plan, subject to approval of the plan by the Canadian Securities Exchange and the shareholders of the company.
The plan allows the company to issue options, RSUs, performance share units and deferred share units to qualified directors, officers, employees and other service providers of the company to attract, retain and motivate such persons and to align the interests of such persons with the interests of shareholders and the long-term goals and success of the company.
The Board also approved the grant of 950,000 options, with an exercise price of $0.43, and 2,800,000 RSUs to certain directors, officers and service providers of the company.
The options expire on November 20, 2027.
Reflex Advanced Materials Corp. is a junior natural resource mining company based in Vancouver, BC.
Reflex Advanced Materials Corp. was down 6.98 per cent, trading at $0.40 at 09:38 ET.