16:07:22 EDT Tue 23 Oct 2018
Enter Symbol
or Name

Login ID:
Sunvest Minerals Corp
Symbol C : SSS
Shares Issued 41,712,553
Close 2017-11-13 C$ 0.095
Recent Sedar Documents

Sunvest closes $911,000 private placement

2017-11-14 13:56 ET - News Release

Mr. Mike England reports


Sunvest Minerals Corp. has completed the second and final tranche of a non-brokered private placement. The total raised in the financing for the two tranches was 9,110,000 units for total gross proceeds of $911,000.

Each unit comprises one common share and one-half of one share purchase warrant of the company. Each full warrant will entitle the holder to purchase one share at a price of 15 cents per warrant share for an 18-month period after the closing date. The warrants are subject to an acceleration clause, which states that the issuer will have the right to accelerate the expiry date of the warrants if, at any time, the average closing price of the shares is equal to or greater than 25 cents for 10 consecutive trading days. In the event of acceleration, the expiry date will be accelerated to a date that is 30 days after the issuer issues a news release, announcing that it has elected to exercise this acceleration right. The company paid a cash commission to the finders on the two tranches of the financing totalling $36,000 and issued 210,000 finder's warrants exercisable for 18 months at 10 cents.

The shares and warrants issued pursuant to the second tranche of the private placement and any shares issued on exercise of the warrants are subject to a four-month resale restriction that expires on March 15, 2018.

The proceeds raised will be used for general corporate purposes and for advancing the company's 4,621-hectare high-grade gold-cobalt Clone project located near Stewart in the Golden Triangle region of northwestern British Columbia as well as the company's Evening Star project located near Hawthorne, Nev.

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