Deal sells 33,333,333 shares at $0.03 each to Prime Asset Ventures
By Toni Weeks
San Luis Obispo, Calif., Oct. 21 - TVI Pacific Inc. plans to raise $1 million in a private placement of stock to Prime Asset Ventures, Inc.
The company will sell 33,333,333 common shares at $0.03 per share.
Proceeds will be used primarily for working capital.
The private placement will be conducted as part of the acquisition by Prime Asset Ventures of a 68.42% interest in TVI's indirect subsidiary, TVI International Marketing, Ltd.
The Calgary, Alta.-based resource company focuses on the production, development, exploration and acquisition of resource projects in the Philippines and southeast Asia.
| Issuer: | TVI Pacific Inc.
|
| Issue: | Common stock
|
| Amount: | $1 million
|
| Shares: | 33,333,333
|
| Price: | $0.03
|
| Warrants: | No
|
| Investor: | Prime Asset Ventures, Inc.
|
| Pricing date: | Oct. 18
|
| Stock symbol: | TSX: TVI
|
| Stock price: | C$0.025 at close Oct. 17
|
| Market capitalization: | C$15.55 million
|
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