TOCVAN Closes Unit Private Placement
Tocvan Ventures Corp. (the “Company”) (CSE:TOC); (OTC:TCVNF); (WKN:TV3/A2PE64), is pleased to announce that it has closed its previously announced non-brokered private placement of units (“Units”) for gross proceeds of $360,803 (the “Offering”). The Offering consisted of the issuance of an aggregate of 481,071 Units at a price of $0.75 per Unit. Each Unit consists of one common share (“Common Share”) in the capital of the Company and one common share purchase warrant (“Warrant”). Each Warrant entitles the holder thereof to acquire one Common Share at a price of $1.35, for a period of 18 months from the closing of the Offering.
In connection with the Offering, the Company paid aggregate cash commissions to arm’s length finders who assisted with the Offering of approximately $14,322 and issued 19,096 finder warrants (“Finder Warrants”). Each Finder Warrant is exercisable at a price of
$0.75 per Common Share for a period of 18 months from the closing of the Offering.