Tocvan Closes First Tranche of Private Placement for $2.1 Million
Tocvan Ventures Corp (CSE:TOC, OTCQB:TCVNF) has closed the first tranche of its non-brokered private placement, raising $2.1 million in gross proceeds. The offering included a significant $1.8 million investment from UK-based Sorbie Bornholm LP. The placement consisted of 4,386,083 Units at $0.48 per Unit, with each unit comprising one common share and one warrant exercisable at $0.75 for 36 months.
The company has commenced RC drilling at its Gran Pilar Gold-Silver Project in Sonora, Mexico. The funds will support drilling efforts, permitting of new drill targets across the expansion area, and preparation for a planned pilot mine in 2025. The proceeds from Sorbie will be released in monthly tranches of $75,000 over 24 months through an escrow arrangement.
Tocvan Ventures Corp (CSE:TOC, OTCQB:TCVNF) ha chiuso la prima tranche del suo collocamento privato non intermediarato, raccogliendo $2,1 milioni in proventi lordi. L'offerta ha incluso un significativo investimento di $1,8 milioni da parte della britannica Sorbie Bornholm LP. Il collocamento è consistito in 4.386.083 unità a $0,48 ciascuna, con ogni unità che comprende una azione ordinaria e un warrant esercitabile a $0,75 per 36 mesi.
L'azienda ha iniziato il controllo RC presso il suo Gran Pilar Gold-Silver Project in Sonora, Messico. I fondi supporteranno gli sforzi di perforazione, il permesso per nuovi obiettivi di perforazione nell'area di espansione e la preparazione per una miniera pilota pianificata per il 2025. I proventi da Sorbie saranno rilasciati in tranche mensili di $75.000 per 24 mesi attraverso un accordo di deposito.
Tocvan Ventures Corp (CSE:TOC, OTCQB:TCVNF) ha cerrado la primera tranche de su colocación privada no intermediada, recaudando $2.1 millones en ingresos brutos. La oferta incluyó una significativa inversión de $1.8 millones por parte de Sorbie Bornholm LP, con sede en el Reino Unido. La colocación consistió en 4,386,083 unidades a $0.48 por unidad, con cada unidad que comprende una acción ordinaria y un warrant ejercitable a $0.75 durante 36 meses.
La empresa ha comenzado la perforación RC en su Gran Pilar Gold-Silver Project en Sonora, México. Los fondos apoyarán los esfuerzos de perforación, los permisos para nuevos objetivos de perforación en el área de expansión y la preparación para una mina piloto planificada para 2025. Los ingresos de Sorbie se liberarán en tranches mensuales de $75,000 durante 24 meses a través de un acuerdo de escrow.
톡반 벤처스 주식회사 (CSE:TOC, OTCQB:TCVNF)는 비중개 개인 배치의 첫 번째 트랜치를 마감하고 $2.1백만의 총 수익을 올렸습니다. 이 제안에는 영국 기반의 Sorbie Bornholm LP로부터의 상당한 $1.8백만 투자가 포함되었습니다. 이번 배치는 각각 하나의 보통주와 36개월 동안 $0.75에 행사 가능한 하나의 워런트로 구성된 4,386,083 유닛을 $0.48에 형성했습니다.
회사는 멕시코 소노라에 위치한 Gran Pilar Gold-Silver Project에서 RC 드릴링을 시작했습니다. 자금은 드릴링 작업, 확장 지역의 새로운 드릴 타겟에 대한 허가 및 2025년 예정된 파일럿 광산 준비를 지원합니다. Sorbie로부터의 수익은 에스크로 계약을 통해 24개월 동안 매달 $75,000씩 분할 지급됩니다.
Tocvan Ventures Corp (CSE:TOC, OTCQB:TCVNF) a clôturé la première tranche de son placement privé non souscrit, levant 2,1 millions de dollars en produits bruts. L'offre comprenait un investissement significatif de 1,8 million de dollars de la part de Sorbie Bornholm LP, basé au Royaume-Uni. Le placement a consisté en 4.386.083 unités à 0,48 $ chacune, chaque unité comprenant une action ordinaire et un bon de souscription exerçable à 0,75 $ pendant 36 mois.
L'entreprise a commencé le forage RC sur son Gran Pilar Gold-Silver Project à Sonora, au Mexique. Les fonds soutiendront les efforts de forage, l'obtention de permis pour de nouveaux objectifs de forage dans la zone d'expansion, ainsi que la préparation d'une mine pilote prévue pour 2025. Les revenus de Sorbie seront libérés en tranches mensuelles de 75 000 $ pendant 24 mois via un accord de séquestre.
Tocvan Ventures Corp (CSE:TOC, OTCQB:TCVNF) hat die erste Tranche ihrer nicht-brokerage privaten Platzierung abgeschlossen und 2,1 Millionen Dollar an Bruttoeinnahmen angesammelt. Das Angebot umfasste eine bedeutende Investition von 1,8 Millionen Dollar von dem in Großbritannien ansässigen Sorbie Bornholm LP. Die Platzierung bestand aus 4.386.083 Einheiten zu je 0,48 $, wobei jede Einheit eine Stammaktie und einen Warrant enthält, der 36 Monate lang zu 0,75 $ ausgeübt werden kann.
Das Unternehmen hat mit der RC-Bohrung auf seinem Gran Pilar Gold-Silver Project in Sonora, Mexiko, begonnen. Die Mittel werden die Bohrbemühungen unterstützen, die Genehmigung neuer Bohrziele im Expansionsbereich und die Vorbereitung auf eine geplante Pilotmine im Jahr 2025 ermöglichen. Die Einnahmen von Sorbie werden über eine Treuhandvereinbarung in monatlichen Tranchen von 75.000 $ über 24 Monate freigegeben.
- Secured $2.1 million in funding through private placement
- Major institutional backing with $1.8 million from Sorbie Bornholm LP
- Commenced RC drilling expansion program at Gran Pilar Project
- Structured monthly funding release of $75,000 ensures steady cash flow for 24 months
- Share dilution through issuance of 4,386,083 new units
- Additional dilution from 51,450 finders' warrants and 262,500 shares for corporate finance fee
RC Drilling Underway at Gran Pilar Gold - Silver Project - Expansion Area
CALGARY, AB / ACCESSWIRE / December 11, 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
"We are excited to close the first tranche and announce RC drilling on the expansion area has commenced." commented, CEO Brodie Sutherland. "This next phase of drilling will focus on the immediate expansion of mineralized trends to the north and northeast of the Main Zone, pushing the boundaries into undrilled areas. Recent surface results have indicated mineralization continues and we look forward to unlocking additional resource potential. Funds will be allocated to advance drilling efforts, permit new drill targets across the broad expansion area, and permit and prepare for the anticipated pilot mine in 2025."
Plate 1. Photos of RC Drilling Restarting at the Gran Pilar Gold-Silver Project, Sonora, Mexico.
In connection with the Offering, the Company paid aggregate cash commissions to arm's length finders who assisted with the Offering of approximately
The Units under the Offering 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 Offering proceeds from Sorbie will be deposited with a third-party escrow agent and delivered to the Company in monthly tranches of
Use of Proceeds
The proceeds of the raise will go towards the advancement of the Gran Pilar Au-Ag project in Sonora, Mexico.
About Tocvan Ventures Corp.
Tocvan's advancing gold-silver projects are located in the mine-friendly jurisdiction of Sonora, Mexico. Through ongoing exploration programs, Company is unveiling the high-potential at its Gran Pilar Gold-Silver Project where it holds
Tocvan has approximately 51 million shares outstanding.
Cautionary Statement Regarding Forward Looking Statements
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
The Howard Group
Jeff Walker
VP Howard Group Inc.
403-221-0915
jeff@howardgroupinc.com
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.
SOURCE: Tocvan Ventures Corp
View the original press release on accesswire.com
FAQ
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