Non-brokered deal offers two types of unit, funds Trout Property
By Devika Patel
Knoxville, Tenn., July 19 - Venerable Ventures Ltd. said it settled a C$1.16 million non-brokered private placement of units. The deal priced for C$1.4 million on June 9.
The company sold 3.67 million units of one common share and one warrant at C$0.25 apiece and 689,572 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 50% 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$1,158,850
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.60
|
| Agent: | Non-brokered
|
| Pricing date: | June 9
|
| Settlement date: | July 19
|
| Stock symbol: | TSX Venture: VLV
|
| Stock price: | C$0.40 at close June 9
|
| Market capitalization: | C$4.12 million
|
|
|
| Units
|
| Amount: | C$917,500
|
| Units: | 3.67 million
|
| Price: | C$0.25
|
|
|
| Flow-through units
|
| Amount: | C$241,350
|
| Units: | 689,572
|
| Price: | C$0.35
|
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