Welcome!

Microsoft Cloud Authors: Pat Romanski, Liz McMillan, Lori MacVittie, Elizabeth White, Yeshim Deniz

News Feed Item

D-Fense Capital Announces Closing of Qualifying Transaction and Concurrent Private Placement for Gross Proceeds of $724,710

MONTREAL, QUEBEC -- (Marketwire) -- 12/28/12 -- D-Fense Capital Ltd. ("DFC") (TSX VENTURE:DFC.H), a Capital Pool Company ("CPC") trading on the NEX under the symbol DFC.H, is pleased to announce the closing of its previously announced qualifying transaction (the "QT") with North American Exploration Ltd. ("NAE") and private placement for gross proceeds of $ 724,710 (the "Offering") (for more information on the QT and terms and conditions of the Offering, please consult DFC's amended filing statement dated December 17, 2012 available on SEDAR at www.sedar.com).

Qualifying Transaction

The QT consists of an option (the "Option") to acquire NAE's 100% interest in 4 mining claims totalling approximately 272 hectares, located in the Ogden Township, District of Timmins, Porcupine Mining Division, Province of Ontario (the "Property").

Under the terms of the Option, DFC will acquire all of NAE's right, title and interest in the Property for the following consideration:

a.  Cash payment of $10,000 to NAE (amount already paid by DFC); 
b.  The issuance of 210,000 common shares of DFC to NAE (at a deemed price
    of $0.30 per share); and 
c.  incur the following exploration expenditures on the Property: 
    i.  a minimum of $150,000 of exploration expenditures on or before the
        date that is twelve (12) months following the closing date; and 
    ii. a minimum of $150,000 of exploration expenditures on or before the
        date that is twenty-four (24) months following the closing date. 

The agreement between DFC and NAE further provides that upon exercise of the Option, NAE shall retain a net smelter return royalty on the Property of 2.5% (the "Royalty"). DFC will have the right to acquire 0.5% of the Royalty at any time for a lump sum of $1,000,000.

Private Placement

DFC proceeded today with the closing of the Offering for gross proceeds of $724,410, and has issued a total of 270 flow-through units (the "FT Units") at a price of $1,000 per FT Unit ($270,000) and 459 non-flow-through units (the "Units") at a price of $990 per Unit ($454,410). Each Unit is comprised of 6,600 common shares (the "Shares") at a price of $0.15 per Share and 3,300 warrants (the "Warrants"), each Warrant entitling the holder thereof to acquire one (1) additional common share at a price of $0.25 per share for a period of twenty-four (24) months ending on December 28, 2014. Each FT Unit is comprised of 5,000 flow-through common shares (the "FT Shares") at a price of $0.20 per FT Share. In connection with the Offering, DFC paid finders' fees for a total aggregate amount of $52,036.80.

All securities issued in connection with the closing of the QT and the Private Placement are subject to a regulatory four (4) month hold period ending on April 29, 2013. The QT and Private Placement are subject to the final approval of the TSX Venture Exchange.

ABOUT DFC

DFC is a CPC within the meaning of the policies of the Exchange. Trading of the common shares of DFC on the NEX is currently halted. It is anticipated that the shares of DFC will begin trading on the Exchange shortly after the issuance of the Exchange final approval bulletin. Once the QT and the Offering are duly completed, DFC will commence operations as a Tier 2 mining issuer focused on the exploration of the Property.

Caution Regarding Forward-Looking Statements - This news release contains certain forward-looking statements, including statements regarding the business and anticipated financial performance of DFC. These statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. DFC does not undertake to update any forward looking statements, oral or written, made by itself or on its behalf.

Neither the 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.

Contacts:
D-Fense Capital Ltd.
Mr. Robert Ayotte
Director
450-441-9177 or 514-949-4787

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

IoT & Smart Cities Stories
@DevOpsSummit at Cloud Expo, taking place November 12-13 in New York City, NY, is co-located with 22nd international CloudEXPO | first international DXWorldEXPO and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time t...
CloudEXPO New York 2018, colocated with DXWorldEXPO New York 2018 will be held November 11-13, 2018, in New York City and will bring together Cloud Computing, FinTech and Blockchain, Digital Transformation, Big Data, Internet of Things, DevOps, AI, Machine Learning and WebRTC to one location.
The best way to leverage your Cloud Expo presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering Cloud Expo and @ThingsExpo will have access to these releases and will amplify your news announcements. More than two dozen Cloud companies either set deals at our shows or have announced their mergers and acquisitions at Cloud Expo. Product announcements during our show provide your company with the most reach through our targeted audiences.
Machine Learning helps make complex systems more efficient. By applying advanced Machine Learning techniques such as Cognitive Fingerprinting, wind project operators can utilize these tools to learn from collected data, detect regular patterns, and optimize their own operations. In his session at 18th Cloud Expo, Stuart Gillen, Director of Business Development at SparkCognition, discussed how research has demonstrated the value of Machine Learning in delivering next generation analytics to impr...
The challenges of aggregating data from consumer-oriented devices, such as wearable technologies and smart thermostats, are fairly well-understood. However, there are a new set of challenges for IoT devices that generate megabytes or gigabytes of data per second. Certainly, the infrastructure will have to change, as those volumes of data will likely overwhelm the available bandwidth for aggregating the data into a central repository. Ochandarena discusses a whole new way to think about your next...
The hierarchical architecture that distributes "compute" within the network specially at the edge can enable new services by harnessing emerging technologies. But Edge-Compute comes at increased cost that needs to be managed and potentially augmented by creative architecture solutions as there will always a catching-up with the capacity demands. Processing power in smartphones has enhanced YoY and there is increasingly spare compute capacity that can be potentially pooled. Uber has successfully ...
Chris Matthieu is the President & CEO of Computes, inc. He brings 30 years of experience in development and launches of disruptive technologies to create new market opportunities as well as enhance enterprise product portfolios with emerging technologies. His most recent venture was Octoblu, a cross-protocol Internet of Things (IoT) mesh network platform, acquired by Citrix. Prior to co-founding Octoblu, Chris was founder of Nodester, an open-source Node.JS PaaS which was acquired by AppFog and ...
The deluge of IoT sensor data collected from connected devices and the powerful AI required to make that data actionable are giving rise to a hybrid ecosystem in which cloud, on-prem and edge processes become interweaved. Attendees will learn how emerging composable infrastructure solutions deliver the adaptive architecture needed to manage this new data reality. Machine learning algorithms can better anticipate data storms and automate resources to support surges, including fully scalable GPU-c...
Predicting the future has never been more challenging - not because of the lack of data but because of the flood of ungoverned and risk laden information. Microsoft states that 2.5 exabytes of data are created every day. Expectations and reliance on data are being pushed to the limits, as demands around hybrid options continue to grow.
JETRO showcased Japan Digital Transformation Pavilion at SYS-CON's 21st International Cloud Expo® at the Santa Clara Convention Center in Santa Clara, CA. The Japan External Trade Organization (JETRO) is a non-profit organization that provides business support services to companies expanding to Japan. With the support of JETRO's dedicated staff, clients can incorporate their business; receive visa, immigration, and HR support; find dedicated office space; identify local government subsidies; get...