Vatic Ventures Corp. Announces Consolidation, Financing
VATICVENTURES.COM VATIC VENTURES CORP.
VATIC VENTURES CORP. 318-1008 HOMER STREET VANCOUVER, BC V6B 2X1 CANADA
Vatic Ventures Corp. Announces Consolidation, Financing
Vancouver, BC, January 13, 2016 - Vatic Ventures Corp. (the "Company" or "Vatic") (NEX VCV.H and Frankfurt: V8V) announces that it intends to amend its share structure by consolidating its issued and outstanding common shares on the basis of one (new) post consolidation share for each four (old) preconsolidation shares (the "Consolidation").
The board of directors of the Company believes that the Consolidation is necessary to better position the Company for future corporate development opportunities and financing transactions. There will be no name change in conjunction with the Consolidation.
The Company currently has 11,967,299 common shares issued and outstanding. Following the Consolidation, it is anticipated that the Company will have approximately 2,991,824 common shares issued and outstanding, and continue to trade on the NEX Board of the TSX-Venture Exchange under the existing stock symbol "VCV.H".
The exercise or conversion price and the number of common shares issuable under any of the Company's outstanding warrants and stock options will be proportionately adjusted to reflect the Consolidation in accordance with their respective terms thereof. No fractional common shares will be issued pursuant to the Consolidation, and any fractional common shares that would otherwise be issued will be rounded down or up to the nearest whole number.
The Company also announces that, after it has completed the Consolidation it will conduct a non-brokered private placement of up to 12 million units at a price of five cents per unit ($0.05) to raise proceeds of up to $600,000. Each unit will consist of one common share and one common share purchase warrant (the “Unit Warrants”) with each Unit Warrant entitling the holder to acquire one additional common share at a price of 10 cents ($0.10) per share for 12 months from closing. The funds from the financing will allow the Company to continue with its efforts to examine various potential opportunities in the mineral sector.
ABOUT VATIC VENTURES CORP.
Vatic Ventures Corp (www.vaticventures.com) is a junior exploration company exploring high yield precious metal projects throughout North America. The company continues to explore new opportunities and prospects.
ON BEHALF OF THE BOARD
"Nasim Tyab"
Nasim Tyab, Chairman and CEO
Vatic Ventures Corp.
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.