March 09, 2022
Wittmeier Oil & Gas Engineering Inc (2) (C:SEI)
Shares Issued 138,966,503
Last Close 3/9/2022 $0.19
Wednesday March 9 2022 – Prospectus Approved
Effective Feb. 25, 2022, the company’s (final) short form prospectus dated Feb. 24, 2022, was filed with and accepted by the TSX Venture Exchange, and filed with and receipted by the Ontario Securities Commission.
The prospectus offering qualifies the public distribution of common share units in the capital of the company, the material terms of which are described below, and, further, has been filed under Multilateral Instrument 11-102, Passport System in Ontario, British Columbia, Alberta, Saskatchewan, Manitoba, New Brunswick, Nova Scotia, Prince Edward Island, and Newfoundland and Labrador. A receipt for the prospectus offering is deemed to be issued by the regulator in each of those jurisdictions, if the conditions of the instrument have been satisfied.
The TSX Venture Exchange has been advised that closing occurs on March 8, 2022, for an aggregate gross proceeds of $13,282,500 (including exercise in full of the overallotment option).
Agent:Echelon Wealth Partners Inc. Offering:88.55 million units, each entitling the holder thereof to receive one common share in the capital of the company and one common share purchase warrant (Each warrant entitles the holder to acquire one common share at an exercise price of 25 cents per warrant share for two years from the closing date.) Unit price:15 cents per unit Agent’s fee:(i) $649,775 in aggregate cash commissions; (ii) $25,000 as a corporate finance fee; (iii) 4,331,833 non-transferable agent warrants issued, each entitling the holder thereof to purchase one unit at an exercise price of 15 cents for two years from the closing date Overallotment option:The company granted the agent an overallotment option in connection with this prospectus offering to purchase up to 11.55 million additional units, representing 15 per cent of the prospectus offering. The overallotment option was exercised in full on closing.
New listing — warrants
Effective at the opening on March 11, 2022, the warrants of the company will commence trading on the TSX Venture Exchange. The company is classified as an oil and gas services company.
Corporate jurisdiction:Alberta Capitalization:92,881,833 warrants, authorized by a warrant indenture dated March 8, 2022, of which 88.55 million warrants are issued and outstanding Warrant exercise price/term:25 cents per warrant until March 8, 2024 Transfer agent:Computershare Trust Company of Canada Trading symbol:SEI.WT Cusip No.:82938H 12 3
For further information, please reference the company’s final short form prospectus dated Feb. 24, 2022, and news releases dated Jan. 31, 2022, Feb. 1, 2022, Feb. 22, 2022, and March 8, 2022.
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