VANCOUVER, B.C., October 5, 2016 – Wolfeye Resource Corp. (TSX-V: WEY) (“Wolfeye” or the “Company”) is pleased to announce the completion of its previously announced non-brokered private placement pursuant to which the Company has issued 8,400,800 common shares in the capital of the Company (the “Shares”) at a price of $0.25 per Share for aggregate gross proceeds of $2,100,200 (the “Offering”). The offering was conducted pursuant to the Company’s acquisition of all issued and outstanding securities of Bionomics Diagnostics Inc., structured as a Reverse Takeover under the rules and policies of the TSX Venture Exchange (the “Transaction”). For further information regarding the Transaction, please see the Company’s news releases dated December 1, 2015 and April 11, 2016.
In connection with the Offering, the Company paid finder’s fees and expenses of $121,350 and issued 477,400 warrants, each warrant exercisable at a price of $0.25 for a period of two years from the date of issue.
All securities distributed pursuant to the Offering will be subject to a statutory hold period of four months and a day from the date of issuance.
Completion of the proposed transaction is subject to a number of conditions, including TSX-V acceptance and disinterested shareholder approval. The transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the Filing Statement to be prepared in connection with the transaction, any information released or received with respect to the RTO may not be accurate or complete and should not be relied upon. Trading in securities of Wolfeye Resource Corp. should be considered highly speculative.
The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectations. Important factors – including the available of funds, the results of financing efforts, the results of exploration activities — that could cause actual results to differ materially from the Company’s expectations are disclosed in the Company’s documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.