Subject: Interconnect Ventures Corporation (TSXV:IVC) - News Release [CWILSON-C.FID1384246]
PDF Document
File: Attachment Interconnect - News Release - $0.01 Private Placement and Director Resignation.pdf
INTERCONNECT VENTURES CORPORATION
c/o Suite 900 885 West Georgia Street
Vancouver, British Columbia V6C 3H1
Telephone: (965) 9988 5018
FOR IMMEDIATE RELEASE TSX-V symbol: IVC
Not for dissemination in the United States or for release to US news wire services
INTERCONNECT ANNOUNCES NON-BROKERED PRIVATE PLACEMENT
March 6, 2025 - Vancouver, BC Interconnect Ventures Corporation (TSX-V:IVC) (the "Company")
announces that it is undertaking a non-brokered private placement financing of up to $97,119 (the "Private
Placement") through the issuance of up to 9,711,901 units of the Company (each, a "Unit") at a price of
$0.01 per Unit. Each Unit is comprised of one common share in the capital of the Company (each, a
"Share") and one transferable common share purchase warrant (each, a "Warrant"). Each Warrant will
entitle the holder thereof to acquire one additional Share (each, a "Warrant Share") at a price of $0.05 per
Warrant Share for a period of one year following the closing of the Private Placement.
Proceeds of the Private Placement will be used for identifying and evaluating a proposed Qualifying
Transaction (as defined in Policy 2.4 of the TSX Venture Exchange (the "Exchange")) and for general
working capital purposes. No proceeds of the Private Placement are proposed to be paid to any non-arm's
length parties or for investor relations activities. Finder's fees may be payable in connection with the Private
Placement.
All securities issued pursuant to the Private Placement will be subject to a statutory hold period expiring
four months and one day after closing. Completion of the Private Placement is subject to a number of
conditions, including, without limitation, receipt of all regulatory approvals, including approval of the
Exchange.
None of the securities sold in connection with the Private Placement will be registered under the United
States Securities Act of 1933, as amended, and no such securities may be offered or sold in the United
States absent registration or an applicable exemption from the registration requirements. This news release
shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the
securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Director Resignation
The Company also announces that Ibrahim Al Subaiei has resigned from the board of directors effective
March 3, 2025. The Company would like to thank Mr. Al Subaiei for his contributions to the Company and
wish him well in his future endeavours.
ON BEHALF OF THE BOARD OF DIRECTORS
"Eyad Al Saleh"
Dr. Eyad Al Saleh
Director, Chairman and Chief Executive Officer
26480042.1
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For further information, please contact:
Dr. Eyad Al Saleh
T: 965.6900.6682
E: r.jabbour@interconnect-ventures.com
Statements in this news release that are not historical facts are forward-looking statements. Forward-looking
statements are statements that are not historical, and consist primarily of projections - statements regarding future
plans, expectations and developments. Words such as "expects", "intends", "plans", "may", "could", "potential",
"should", "anticipates", "likely", "believes" and words of similar import tend to identify forward-looking
statements. Forward-looking statements in this news release include statements about the Private Placement and its
terms, and that it is subject to Exchange acceptance. These forward-looking statements are subject to a variety of
known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those
expressed or implied, including, without limitation: (i) the Company's inability to complete the Private Placement;
(ii) the Company's inability to raise all the funds and our proposed use of proceeds for the Private Placement; and
(iii) receipt of approvals of the Exchange. Readers are cautioned that the foregoing list is not exhaustive of all factors
and assumptions which may have been used. The Company cannot assure that actual events, performance or results
will be consistent with these forward-looking statements, and management's assumptions may prove to be incorrect.
These forward-looking statements reflect current expectations regarding future events and operating performance
and speak only as of the date hereof and the Company does not assume any obligation to update forward-looking
statements if circumstances or management's beliefs, expectations or opinions should change other than as required
by applicable law. For the reasons set forth above, readers should not place undue reliance on forward-looking
statements.
The Exchange has not reviewed and has neither approved nor disapproved the contents of this press release.
Neither the Exchange nor its Regulation Services Provider (as that term is defined in policies of the Exchange)
accepts responsibility for the adequacy or accuracy of this release.
26480042.1
Word Document
File: '\\swfile\EmailIn\20250306 132055 Attachment Interconnect - News Release - $0.01 Private Placement and Director Resignation.docx'
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26480042.1
26480042.1
INTERCONNECT VENTURES CORPORATION
c/o Suite 900 - 885 West Georgia Street
Vancouver, British Columbia V6C 3H1
Telephone: (965) 9988 5018
FOR IMMEDIATE RELEASE TSX-V symbol: IVC
Not for dissemination in the United States or for release to US news wire services
INTERCONNECT ANNOUNCES NON-BROKERED PRIVATE PLACEMENT
March 6, 2025 - Vancouver, BC - Interconnect Ventures Corporation (TSX-V:IVC) (the "Company") announces that it is undertaking a non-brokered private placement financing of up to $97,119 (the "Private Placement") through the issuance of up to 9,711,901 units of the Company (each, a "Unit") at a price of $0.01 per Unit. Each Unit is comprised of one common share in the capital of the Company (each, a "Share") and one transferable common share purchase warrant (each, a "Warrant"). Each Warrant will entitle the holder thereof to acquire one additional Share (each, a "Warrant Share") at a price of $0.05 per Warrant Share for a period of one year following the closing of the Private Placement.
Proceeds of the Private Placement will be used for identifying and evaluating a proposed Qualifying Transaction (as defined in Policy 2.4 of the TSX Venture Exchange (the "Exchange")) and for general working capital purposes. No proceeds of the Private Placement are proposed to be paid to any non-arm's length parties or for investor relations activities. Finder's fees may be payable in connection with the Private Placement.
All securities issued pursuant to the Private Placement will be subject to a statutory hold period expiring four months and one day after closing. Completion of the Private Placement is subject to a number of conditions, including, without limitation, receipt of all regulatory approvals, including approval of the Exchange.
None of the securities sold in connection with the Private Placement will be registered under the United States Securities Act of 1933, as amended, and no such securities may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Director Resignation
The Company also announces that Ibrahim Al Subaiei has resigned from the board of directors effective March 3, 2025. The Company would like to thank Mr. Al Subaiei for his contributions to the Company and wish him well in his future endeavours.
ON BEHALF OF THE BOARD OF DIRECTORS
"Eyad Al Saleh"
Dr. Eyad Al Saleh
Director, Chairman and Chief Executive Officer
For further information, please contact:
Dr. Eyad Al Saleh
T: 965.6900.6682
E: r.jabbour@interconnect-ventures.com
Statements in this news release that are not historical facts are forward-looking statements. Forward-looking statements are statements that are not historical, and consist primarily of projections - statements regarding future plans, expectations and developments. Words such as "expects", "intends", "plans", "may", "could", "potential", "should", "anticipates", "likely", "believes" and words of similar import tend to identify forward-looking statements. Forward-looking statements in this news release include statements about the Private Placement and its terms, and that it is subject to Exchange acceptance. These forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied, including, without limitation: (i) the Company's inability to complete the Private Placement; (ii) the Company's inability to raise all the funds and our proposed use of proceeds for the Private Placement; and (iii) receipt of approvals of the Exchange. Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. The Company cannot assure that actual events, performance or results will be consistent with these forward-looking statements, and management's assumptions may prove to be incorrect. These forward-looking statements reflect current expectations regarding future events and operating performance and speak only as of the date hereof and the Company does not assume any obligation to update forward-looking statements if circumstances or management's beliefs, expectations or opinions should change other than as required by applicable law. For the reasons set forth above, readers should not place undue reliance on forward-looking statements.
The Exchange has not reviewed and has neither approved nor disapproved the contents of this press release. Neither the Exchange nor its Regulation Services Provider (as that term is defined in policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
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