- Tocvan Ventures (TOC) will be proceeding with a non-brokered private placement for gross proceeds of up to $1,200,000
- The company will issue 1,200,000 units at $1.00 per unit
- A lead order has been established with a prospective long-term shareholder with extensive experience in Mexican mineral exploration and development
- The proceeds of the offering will go towards the advancement of the Pilar and El Picacho Au-Ag projects in Sonora, Mexico
- Tocvan is a natural resource company engaged primarily in the acquisition, exploration and development of mineral properties
- Tocvan Ventures Corp. is down 0.91 per cent on the day, trading at C$1.09 per share at 2 pm ET
Tocvan Ventures (TOC) will be proceeding with a non-brokered private placement for gross proceeds of up to $1,200,000.
The company will issue 1,200,000 units at $1.00 per unit. Each unit includes one common share and one half of one common share purchase warrant. Each warrant will entitle the holder to acquire one additional share at a price of $1.50 for a period of 24 months from the date the units are issued, subject to an accelerated expiry provision.
A lead order has been established with a prospective long-term shareholder with extensive experience in Mexican mineral exploration and development.
Closing of the offering is subject to receipt of all necessary corporate and regulatory approvals. All securities issued will be subject to a statutory hold period of four months plus a day.
The proceeds of the offering will go towards the advancement of the Pilar and El Picacho Au-Ag projects in Sonora, Mexico.
CEO Derek Wood commented on the financing.
“After reviewing many finance options for Tocvan we are extremely pleased to bring on board a strong long-term shareholder that has extensive experience in Mexican Mineral Exploration and Development. Our newest shareholder was an early and significant investor in SilverCrest Metals with a current Market Capitalization of over $1.5 billion. We feel this bodes well for the future of Tocvan as we continue to move towards definition drilling and bulk sampling at Pilar. We are excited to begin our next phase of drilling at Pilar.”
Tocvan is an early-stage natural resource company engaged primarily in the acquisition, exploration and development of mineral properties.
Tocvan Ventures Corp. is down 0.91 per cent on the day, trading at C$1.09 per share at 2 pm ET.
