Concurrent Financing. (a) The Parties acknowledge and agree that Aura shall use its best efforts to complete a non- brokered private placement financing (the “Concurrent Financing”) immediately prior to the completion of the Transaction of a minimum of 1,000,000 Financing Units with a minimum gross proceeds of $1,000,000 or such other amount as agreed to in writing by Purchaser and Aura (the “Minimum Offering”) and a maximum of 5,000,000 Financing Units with maximum gross proceeds of $5,000,000 or such other amount as agreed to in writing by Purchaser and Aura (the “Maximum Offering”) at $1.00 per Financing Unit. (b) The Parties agree that Aura may engage registered brokers to act as finders in the Concurrent Financing (the “Concurrent Financing Finders”) and Aura will pay a finder’s fee equal to 8% of the gross proceeds of the Concurrent Financing sold to Concurrent Financing Purchasers introduced by the finders and issue finder options (the “Concurrent Financing Finder Options”) to purchase that number of Financing Units equal to 8% of the Financing Units sold in the Concurrent Financing exercisable for a period of two years from the Closing Date at a price of $1.00 per Financing Unit. (c) The Parties agree that it shall be a mutual condition for the completion of the Transaction that ▇▇▇▇ completes the Minimum Offering.
Appears in 1 contract
Sources: Securities Exchange Agreement
Concurrent Financing. (a) The Parties acknowledge and agree that Aura shall use its best efforts to complete a non- brokered private placement financing (the “Concurrent Financing”) immediately prior to the completion of the Transaction of a minimum of 1,000,000 Financing Units with a minimum gross proceeds of $1,000,000 or such other amount as agreed to in writing by Purchaser and Aura (the “Minimum Offering”) and a maximum of 5,000,000 Financing Units with maximum gross proceeds of $5,000,000 or such other amount as agreed to in writing by Purchaser and Aura (the “Maximum Offering”) at $1.00 per Financing Unit.
(b) The Parties agree that Aura may engage registered brokers to act as finders in the Concurrent Financing (the “Concurrent Financing Finders”) and Aura will pay a finder’s fee equal to 8% of the gross proceeds of the Concurrent Financing sold to Concurrent Financing Purchasers introduced by the finders and issue finder options (the “Concurrent Financing Finder Options”) to purchase that number of Financing Units equal to 8% of the Financing Units sold in the Concurrent Financing exercisable for a period of two years from the Closing Date at a price of $1.00 per Financing Unit.
(c) The Parties agree that it shall be a mutual condition for the completion of the Transaction that ▇▇▇▇ Aura completes the Minimum Offering.
Appears in 1 contract
Sources: Securities Exchange Agreement