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FronTier is a highly experienced and recognized investor relations group with offices in Toronto, Montreal, Calgary, Vancouver, San Francisco, Los Angeles and New York City. FronTier will assist Taranis by increasing market awareness through the utilization of a number of financial market initiatives, and will facilitate in-person introductions for Taranis with institutional retail brokers and investors in a number of cities across Canada and the U.S.
Under the terms of the engagement, FronTier has been retained for a 12 month period for total consideration of $100,000. Taranis has also agreed to grant an incentive stock option to FronTier, entitling it to purchase up to 300,000 common shares of Taranis at an exercise price of $0.10, vesting quarterly and expiring 90 days after the termination of the provision of investor relations services. FronTier and its principals do not currently own any securities of Taranis.
In conjunction with this engagement, Taranis announces a $130,000 private placement with FronTier, to consist of the sale and issuance of 1,300,000 units at a price of $0.10 per unit, each unit consisting of one common share and one-half (1/2) of a non-transferable share purchase warrant, with each whole warrant to entitle the holder to purchase one additional common share of Taranis at a price of $0.10 for a period of two years. This private placement is also subject to regulatory acceptance.
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