Vatic Ventures Corp. Completes Private Placement
VATICVENTURES.COM VATIC VENTURES CORP.
VATIC VENTURES CORP. 318-1008 HOMER STREET VANCOUVER, BC V6B 2X1 CANADA
NEWS RELEASE
VATIC VENTURES CORP. COMPLETES PRIVATE PLACEMENT
Vancouver, BC, January 11, 2013 – Vatic Ventures Corp (TSX-V: VCV and Frankfurt: V8V)
Vatic Ventures Corp. (‘Vatic”) announces that further to a news release of July 4, 2012, the Company has completed of a non-brokered private placement (the "Offering") of 4,452,100 units of the Company (the "Units") at $0.10 per Unit for aggregate gross proceeds of $445,210. Each Unit will consist of one common share in the capital of the Company and one-half of one share purchase warrant of the Company (each, a "Warrant"). Each whole Warrant is exercisable into one common share in the capital of the Company (each, a "Warrant Share") at an exercise price of $0.15 per Warrant Share for a period of 12 months from the closing date of the Offering (the "Closing Date") and $0.20 for the next 12 months from the Closing Date. If Vatic’s common shares trade at or above a price of $0.30 for 10 consecutive trading days, Oracle may give notice (the "Notice") to the warrant holders that it intends to accelerate the expiry date of the Warrants to a date not less than the later of 30 days from the date of the Notice and the date that any hold period attaching to the Units expires. The Company has used the proceeds from the Offering to complete the La Silla acquisition as announced on November 27, 2012 and for working capital purposes.
The shares issued and any shares issued upon the exercise of warrants from this private placement have a hold period from trading as follows;
4,202,100 until March 29, 2013
250,000 until April 20, 2013
Finders’ fees were paid as follows;
1. Beaufort International Associates Limited of London, England, $15,000 in cash and 150,000 agents’ warrants on the same terms as the private placement.
2. $8810.00 in cash was paid to three individuals.
TERMINATION OF INVESTOR RELATIONS CONTRACT
Vatic also reports that it has terminated the investor relations contract with Michael Rahtjen dated May 16, 2012. The 220,000 stock options granted to Mr. Rahtjen exercisable at a price of $0.10 per share have been cancelled.
ABOUT VATIC VENTURES CORP.
Vatic Ventures Corp (www.vaticventures.com) is a junior exploration company developing high yield precious metal projects throughout North America. Focusing on high yield gold and silver projects, Vatic Ventures currently holds three projects, the BM gold property in the Spences Bridge Gold Belt near Merritt, BC, and Option-to-Purchase Agreements for the La Silla West and the La Silla properties near Mazatlan, Mexico. The company continues to explore new opportunities and prospects.
ON BEHALF OF THE BOARD OF DIRECTORS
"Nasim Tyab"
Nasim Tyab
President
The TSX Venture Exchange has not reviewed and does not accept responsibility for the contents of this news release.