Savoy Ventures Inc. Announces Proposed Private Placement
January 31, 2017, Vancouver, British Columbia - SAVOY VENTURES INC. (NEX: SVO.H) (“Savoy” or the “Company”), reports that it has arranged a non-brokered private placement to raise up to $300,000, offering five million units at a price of six cents per unit. Each unit will consist of one common share and one transferable share purchase warrant exercisable for a period of one year to purchase one additional common share at a price of eight cents per common share. A finder's fee may be paid on a portion of the placement in accordance with TSX Venture Exchange policies. The private placement is subject to prior exchange approval.
The proceeds from the private placement will be used to pay outstanding liabilities and for general working capital.
Contact
For further information, contact Glen Macdonald, President and Chief Executive Officer of Savoy at: (604)719-8129
Cautionary and Forward-Looking Statements
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain information in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Savoy, including but not limited to, the uncertainty of the Transaction proceeding, the impact of general economic conditions, industry conditions, dependence upon regulatory and shareholder approvals, the execution of definitive documentation and the uncertainty of obtaining additional financing. Readers are cautioned that the assumptions used in preparing such information, although considered reasonable at the time of preparation, may prove imprecise and undue reliance should not be placed on forward-looking statements. Forward-looking statements in this press release are expressly qualified by this cautionary statement.
The forward-looking statements in this press release are made as of the date of this press release, and the Company undertakes no obligations to update publicly or to revise any of the included forward-looking statements, whether because of new information, future events or otherwise, except as expressly required by applicable securities law.
This press release shall not constitute an offer to sell, nor the solicitation of an offer to buy, any securities in the United States, nor shall there be any sale of securities mentioned in this press release in any state in the United States in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
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