Mr. Dale McClanaghan reports
LOTUS ANNOUNCES PRIVATE PLACEMENT
Lotus Ventures Inc. has arranged an offering that will consist of up to eight million units at a purchase price of 25 cents per unit for aggregate gross proceeds of up to $2-million. Each unit will consist of one common share in the capital of the company and one common share purchase warrant. Each warrant will entitle the holder to purchase one common share for a period of five years from the date of issuance at a purchase price of 30 cents. The company may pay a cash finder's fee of 5 per cent. The proceeds from the offering will be used for working capital and general corporate purposes.
We seek Safe Harbor.
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