Mr. Joe Bleackley reports
PATHFINDER VENTURES ANNOUNCES NON-BROKERED PRIVATE PLACEMENT OF UP TO $1 MILLION AND CONCURRENT SHARE CONSOLIDATION
Pathfinder Ventures Inc. has arranged a non-brokered private placement, on a postconsolidation basis (see below), of up to 10 million units at a price of 10 cents per unit for gross proceeds of $1-million. Each unit will comprise one postconsolidation common share of the issuer and one-half of a non-transferable purchase warrant, with a whole warrant entitling the holder to purchase a further share at a price of 20 cents for a period of 36 months subject to acceleration on the occurrence of certain events.
Pathfinder further announces that it will be undertaking a consolidation of its common shares on the basis of one postconsolidation common share for four preconsolidation common shares. The company expects that the consolidation will provide the company with increased flexibility in structuring and completing financings and potential business transactions. The company currently has 93,681,976 common shares outstanding, and, accordingly, expects 23,420,494 common shares to be outstanding on completion of the consolidation (subject to rounding adjustments and any further share issuances prior to the consolidation) and prior to the completion of the private placement. The company does not expect to change its name or trading symbol in conjunction with the consolidation.
Finders' fees may be payable in accordance with the policies of the TSX Venture Exchange. The company intends to use the net proceeds of the private placement for general working capital, to support current RV (recreational vehicle) resort developments and expansions, and to advance acquisition opportunities within its pipeline, consisting of RV resorts and lifestyle communities.
Completion of the consolidation and the private placement remains subject to the approval of the TSX Venture Exchange.
About Pathfinder Ventures Inc.
Pathfinder is a leading provider of premium RV camping experiences, committed to delivering exceptional hospitality and modern amenities to outdoor enthusiasts. With a portfolio of strategically located resorts, Pathfinder offers unparalleled opportunities for memorable RV vacations.
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