Non-brokered deal offers two types of unit, funds Trout Property
By Devika Patel
Knoxville, Tenn., June 9 - Venerable Ventures Ltd. said it plans a C$1.4 million non-brokered private placement of units.
The company will sell 4 million units of one common share and one warrant at C$0.25 apiece and 1,142,858 flow-through units of one flow-through common share and one warrant at C$0.35 apiece.
Each whole warrant is exercisable at C$0.60 for one year. The strike price is a 40.85% premium to the June 8 closing share price of C$0.40.
Proceeds will provide working capital to be used at the Trout Property.
Based in Vancouver, B.C., Venerable Ventures is a gold explorer.
| Issuer: | Venerable Ventures Ltd.
|
| Issue: | Units of one common share and one warrant, units of one flow-through common share and one warrant
|
| Amount: | C$1.4 million
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.60
|
| Agent: | Non-brokered
|
| Pricing date: | June 9
|
| Stock symbol: | TSX Venture: VLV
|
| Stock price: | C$0.40 at close June 9
|
| Market capitalization: | C$3.83 million
|
|
|
| Units
|
| Amount: | C$1 million
|
| Units: | 4 million
|
| Price: | C$0.25
|
|
|
| Flow-through units
|
| Amount: | C$400,000
|
| Units: | 1,142,858
|
| Price: | C$0.35
|
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