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Tocvan Ventures Corp. closes the first tranche of a private placement, raising $2.1 million. The Offering included a significant investment from a UK-based institutional investor, Sorbie Bornholm LP. The Company issued 5,999,514 Units at $0.35 per Unit, with each Unit consisting of one Common Share and one Warrant. The CEO, Brodie Sutherland, expressed satisfaction with the support from existing and new shareholders as they progress their projects. The company also paid commissions to finders and issued Finders' Warrants. The Offering proceeds will be used to advance the Pilar and Picacho Au-Ag projects in Sonora, Mexico.
Tocvan Ventures Corp. ha chiuso la prima tranche di un collocamento privato, raccogliendo 2,1 milioni di dollari. L'offerta includeva un investimento significativo da parte dell'investitore istituzionale con sede nel Regno Unito, Sorbie Bornholm LP. La società ha emesso 5.999.514 unità al prezzo di 0,35 dollari per unità, ciascuna composta da una quota ordinaria e un warrant. Il CEO, Brodie Sutherland, ha manifestato soddisfazione per il sostegno ricevuto dagli azionisti attuali e nuovi mentre procedono con i loro progetti. La società ha anche pagato commissioni ai mediatori e emesso dei Warrant ai Trovatori. I proventi dell'offerta saranno utilizzati per sviluppare i progetti auriferi e argentiferi di Pilar e Picacho a Sonora, in Messico.
Tocvan Ventures Corp. ha cerrado la primera tranche de una colocación privada, recaudando 2,1 millones de dólares. La oferta incluyó una inversión significativa de un inversor institucional con sede en el Reino Unido, Sorbie Bornholm LP. La compañía emitió 5.999.514 Unidades a 0,35 dólares por Unidad, cada una compuesta por una Acción Común y un Warrant. El CEO, Brodie Sutherland, expresó su satisfacción por el apoyo de los accionistas actuales y nuevos mientras avanzan en sus proyectos. La compañía también pagó comisiones a los intermediarios y emitió Warrants para los Encuentradores. Los fondos recaudados serán utilizados para avanzar en los proyectos de oro y plata Pilar y Picacho en Sonora, México.
톡반 벤처스 코프는 사적 배치의 첫 번째 물량을 마감하여 210만 달러를 조성했습니다. 이 오퍼링에는 영국에 기반을 둔 기관 투자자 소르비 본홀름 LP의 중요 투자가 포함되었습니다. 회사는 주당 0.35달러에 5,999,514개의 유닛을 발행했으며, 각 유닛은 하나의 보통주와 하나의 워런트로 구성되었습니다. CEO 브로디 서덜랜드는 기존 주주 및 새로운 주주들의 지지에 만족을 표하며 그들의 프로젝트를 진행해 나가고 있습니다. 회사는 또한 파인더에게 커미션을 지급하고 파인더의 워런트를 발행했습니다. 이 오퍼링으로 얻은 수익은 멕시코 소노라의 필라르와 피카초 Au-Ag 프로젝트를 발전시키는 데 사용될 것입니다.
Tocvan Ventures Corp. a clôturé la première tranche d'un placement privé en levant 2,1 millions de dollars. L'offre comprenait un investissement significatif de la part d'un investisseur institutionnel basé au Royaume-Uni, Sorbie Bornholm LP. La société a émis 5 999 514 Unités à 0,35 $ l'unité, chaque Unité comprenant une Action Ordinaire et un Warrant. Le PDG, Brodie Sutherland, s'est félicité du soutien des actionnaires existants et nouveaux alors qu'ils font avancer leurs projets. La société a également versé des commissions aux intermédiaires et émis des Warrants pour les finders. Les fonds obtenus seront utilisés pour développer les projets d'or et d'argent Pilar et Picacho à Sonora, au Mexique.
Tocvan Ventures Corp. hat die erste Tranche einer Privatplatzierung abgeschlossen und dabei 2,1 Millionen Dollar aufgebracht. Das Angebot umfasste eine bedeutende Investition von einem in Großbritannien ansässigen institutionellen Investor, Sorbie Bornholm LP. Das Unternehmen gab 5.999.514 Einheiten zu einem Preis von 0,35 Dollar pro Einheit aus, wobei jede Einheit aus einer Stammaktie und einem Warrant bestand. Der CEO, Brodie Sutherland, zeigte sich zufrieden mit der Unterstützung von bestehenden und neuen Aktionären, während sie ihre Projekte vorantreiben. Das Unternehmen zahlte auch Provisionen an Finder und gab Finder-Warrants aus. Die Erlöse aus dem Angebot werden verwendet, um die Pilar- und Picacho Au-Ag-Projekte in Sonora, Mexiko, voranzutreiben.
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CALGARY, AB / ACCESSWIRE / April 25, 2024 / Tocvan Ventures Corp. (the "Company") (CSE:TOC)(OTCQB:TCVNF) (WKN:TV3/A2PE64), is pleased to announce that it has closed a first tranche of its previously announced non-brokered private placement of Units ("Units") for gross proceeds of $2,099,830 (the "Offering"), which included $1,500,000 from a UK based institutional investor, Sorbie Bornholm LP ("Sorbie"), who has invested in several previous private placements with the Company since 2022. The Offering consisted of the issuance of an aggregate of 5,999,514 Units at a price of $0.35 per Unit. Each Unit consists of one common share ("Common Share") in the capital of the Company and one common share purchase warrant ("Warrant"). Each Warrant will entitle the holder thereof to acquire one additional Common Share in the capital of the Company at a price of $0.50 for a period of 36 months from the closing of the Offering.
"We are pleased to quickly close out a significant portion of the placement," commented Brodie Sutherland, CEO. "The final portion of the placement will remain open while we collect final documentation. We are very excited with the resounding support received from current and new shareholders as we advance our projects."
In connection with the Offering, the Company paid aggregate cash commissions to arm's length finders who assisted with the Offering of approximately $52,885 and issued 151,100 finders' warrants ("Finders' Warrants"). Each Finder's Warrant is exercisable at a price of $0.35 per Common Share for a period of 36 months from the closing of the Offering. In addition, Sorbie received a corporate finance fee of $105,000, paid via the issuance of 300,000 Common Shares and 300,000 Warrants on the terms noted above.
The company currently has 50,009,919 Common Shares outstanding.
The Company relied on the listed issuer financing exemption under Part 5A of National Instrument 45-106 - Prospectus Exemptions in connection with the distribution of 2,160,000 free trading common shares under the Offering for proceeds $756,000. The balance of the Units under the Offering, being 3,839,514 for gross proceeds of $1,343,830, are subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation in Canada. The Amended and Restated Offering Document dated April 19, 2024, related to a portion of the Offering is available under the Company's SEDAR profile at sedar+ and at www.tocvan.com.
The Offering proceeds from Sorbie will be deposited with a third-party escrow agent and delivered to the Company in monthly tranches of $62,500 over the next 24 months pursuant to the terms and conditions of a sharing agreement between the Company and Sorbie Bornholm LP dated June 28, 2022, as amended on April 24, 2024, and an escrow agreement dated June 28, 2022, as amended on April 24, 2024, between the Corporation, Sorbie Bornholm LP, and Orrick, Herrington & Sutcliffe (UK) LLP.
Use of Proceeds
The proceeds of the raise will go towards the advancement of the Pilar and Picacho Au-Ag projects in Sonora, Mexico. With a primary focus on the second cash payment for the expansion acquisition around Pilar (see October 18, 2023 News Release) and accelerating the permitting and drilling initiatives leading towards resource development.
About Tocvan Ventures Corp.
Tocvan is a well-structured exploration and development company. Tocvan was created in order to take advantage of the prolonged downturn in the junior mining exploration sector, by identifying and negotiating interest in opportunities where management feels they can build upon previous success. Tocvan has approximately 43 million shares outstanding and is earning into two exciting opportunities in Sonora, Mexico. The Company has consolidated an attractive land position at its Pilar Gold-Silver Project where it holds 100% interests in over 21 square kilometers of prospective area and a majority ownership (51%) in a one square kilometer area shared with Colibri Resources. The Company also holds 100% interest in the Picacho Gold-Silver project in the Caborca Trend of northern Sonora, a trend host to some of the major gold deposits of the region. Management feels both projects represent tremendous opportunity to create shareholder value.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains "forward-looking information" which may include, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future. Forward-looking information in this news release includes statements regarding the use of proceeds from the Offering. Such forward-looking information is often, but not always, identified by the use of words and phrases such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
These forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business. Management believes that these assumptions are reasonable. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, among others, risks related to the speculative nature of the Company's business, the Company's formative stage of development and the Company's financial position. Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws.
There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.
For more information, please contact:
TOCVAN VENTURES CORP.
Brodie A. Sutherland, CEO 820-1130 West Pender St. Vancouver, BC V6E 4A4 Telephone: 1 888 772 2452 Email: ir@tocvan.ca
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
