By Devika Patel
Knoxville, Tenn., Oct. 22 - Valencia Ventures Inc. announced plans for a C$1.4 million private placement of units.
The company will sell units of one common share and one warrant at C$0.07 apiece. Each warrant will be exercisable at C$0.10 for two years.
Proceeds will be used in connection with the strategic review of Valencia's business and for working capital purposes.
Valencia is a gold and silver exploration company based in Toronto.
| Issuer: | Valencia Ventures Inc.
|
| Issue: | Units of one common share and a warrant
|
| Amount: | C$1.4 million
|
| Price: | C$0.07
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.10
|
| Pricing date: | Oct. 22
|
| Stock symbol: | TSX Venture: VVI
|
| Stock price: | C$0.10 at close Oct. 22
|
| Market capitalization: | C$6.71 million
|
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