Mr. Jeffrey Ciachurski reports
CAPTIVA VERDE CLOSES FURTHER TRANCHE OF PRIVATE PLACEMENT
Captiva
Verde
Industries
Ltd.,
further
to
its
news
release
of
July
17,
2015,
has
closed
the
third
and
fourth
tranches
of
its
non-brokered
private
placement
of
units
of
the
company
at
25 cents
per unit
for
total
gross
proceeds
of
$225,000.
The
third
tranche
closing
consisted
of
200,000
units
for
gross
proceeds
of
$50,000
and
the
fourth
tranche
closing
consisted
of
700,000
units
for
gross
proceeds
of
$175,000.
Each
unit
consisted
of
one
common
share
in
the
capital
of
the
company
plus
one-half
of
one
common
share
purchase
warrant.
Each
whole
warrant
will
entitle
the
holder
to
purchase
one
additional
share
at
a
price
of
30 cents
for
a
period
of
one
year
from
the
date
of
issuance.
In
connection
with
the
offering,
the
company
has
paid
cash
commissions
in
the
amount
of
$5,000
for
the
third
tranche
and
$17,500
for
the
fourth
tranche,
being
10 per cent
of
the
total
proceeds
from
the
sale
of
units
to
purchasers
introduced
by
the
finders.
The
company
has
also
issued
non-transferable
warrants
to
acquire
a
total
of
12,000
shares
for
the
third
tranche
and
finder
warrants
to
acquire
a
total
of
42,000
shares
for
the
fourth
tranche,
being
6 per cent
of
the
number
of
units
sold
under
the
offering
to
purchasers
introduced
by
the
finders.
Each
finder
warrant
entitles
the
holder
to
purchase
one
share
at
a
price
of
30 cents
per
share
for
a
period
of
five
years
from
the
date
of
issuance.
All
securities
issued
in
connection
with
the
offering
are
subject
to
a
statutory
hold
period
of
fourth
months
plus
a
day,
in
accordance
with
applicable
securities
legislation,
ending
on
Nov.
25,
2015,
for
the
third
tranche
and
ending
on
Nov.
27,
2015,
for
the
fourth
tranche.
The
net
proceeds
received
from
the
offering
will
be
used
by
the
company
to
advance
its farming
plan.
The
company
will
be
proceeding
with
a
further
tranche
of
the
offering.
We seek Safe Harbor.
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