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Canoe Mining Ventures Corp. announced a non-brokered private placement of up to 11,500,000 units at $0.05 per Unit to raise gross proceeds of up to $575,000.
Each Unit comprises one common share and one-half of a common share purchase warrant; every whole warrant will allow purchase of one common share at $0.08 until 36 months after issuance. Proceeds are intended for acquisitions and evaluation of mineral exploration properties, advancement of existing projects, and general working capital.
Closing is subject to corporate and TSX Venture Exchange approvals; issued securities will carry a 4-month plus one day hold period and resale restrictions. The offering is not registered for sale in the United States.
