Mr. Paul Gray reports
ZADAR CLOSES FIRST TRANCHE OF
NON-BROKERED PRIVATE PLACEMENT
Zadar Ventures Ltd. has closed the first
tranche of its previously announced non-brokered private placement, generating gross proceeds of $1,053,680.
Pursuant to the private placement, an aggregate of 10,536,800 units were issued at a price of 10 cents per unit. Each unit consists of one
common share and one common share purchase warrant exercisable at a price of
20 cents for a period of two years from the date of issuance.
The securities in the private placement will be subject to a hold period of
four months and one day from the closing date of the first tranche of the private placement, in accordance with the policies of the TSX Venture
Exchange and applicable securities regulations.
In connection with the closing of the first tranche of the private
placement, $105,368 finders' fees were paid in cash.
The proceeds of the private placement will be used for exploration and
development on the WSP and CR lithium projects in North Clayton Valley,
Nevada, and for general working capital.
In order to close the total gross proceeds stipulated in the company's news
release dated March 1, 2017, the company applied for and was granted an
extension on the closing date by the TSX Venture Exchange.
Zadar Ventures Ltd. is a resource company focused on the acquisition and
exploration of economically viable green energy resources in jurisdictions
favourable to mining and industry. The company's flagship Clayton Valley
project is located directly adjacent to the Albemarle Silver Peak lithium
project, which contains North America's only producing lithium mine.
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