14:57:04 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Velocity Minerals Ltd (3)
Symbol VLC
Shares Issued 1,928,324
Close 2016-07-27 C$ 0.09
Market Cap C$ 173,549
Recent Sedar Documents

Velocity Minerals closes $840,000 private placement

2016-08-02 13:59 ET - News Release

Mr. Paul Larkin reports

VELOCITY MINERALS CLOSES PRIVATE PLACEMENT

Velocity Minerals Ltd. has closed its non-brokered private placement announced on June 1, 2016.

The company raised gross proceeds of $840,000 through the issuance of 14 million units at a price of six cents per unit. Each unit consists of one common share and one common share purchase warrant entitling the holder to purchase one additional common share at an exercise price of 7.5 cents per share until July 27, 2017.

The securities issued pursuant to this private placement, and any common shares to be issued upon the exercise of the warrants, are subject to a hold period expiring on Nov. 28, 2016.

The net proceeds of the private placement will be used to settle outstanding debts and for working capital purposes.

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