Arctic Fox Ventures Inc. Completes Private Placement
Suite #905-1030 West Georgia St., Vancouver, BC Canada V6E 2Y3
Phone (604) 689-2646 Fax (604) 689-1289
ARCTIC FOX VENTURES INC.
May 25, 2022 Trading Symbol: CSE –AFX
ARCTIC FOX VENTURES INC. COMPLETES PRIVATE PLACEMENT
VANCOUVER, BRITISH COLUMBIA (May 25, 20 22) – Arctic Fox Ventures Inc . ( CSE: AFX) (the
“Company”) is pleased to announce the closing of its non -brokered private placement (the “ Placement”) first
announced on April 7, 2022. The Company issued 805,000 units (the “Units”) at a price of $0.10 per Unit for gross
proceeds of $80,500.
Each Unit issued consists of one common share and one common share purchase warrant (the “ Warrants”). Each
Warrant entitles its holder to purchase one common share for a period of two (2) years from the date of issuance
(the “Warrant Expiry Date ”) at an exercise price of $0.12 per common share. The Company intends to use the
proceeds from the financing for general working capital purposes.
All securities issued under the Placement, including securities issuable on exercise of the Warrants, will be subject
to a hold period of four months plus a day in accordance with Canadian securities laws.
For further information, please contact:
Harry Chew, President, CEO
Phone: (604) 689-2646
On behalf of the Board of Directors,
“Harry Chew”
Harry Chew
President & CEO
Arctic Fox Ventures Inc.
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 press release.
Forward-Looking Information: This release includes certain statements that may be deemed "forward -looking statements". All statements i n this release,
other than statements of historical facts, that address any activities and events or developments that Arctic Fox Ventures Inc. ("Arctic Fox") expects to occur,
are forward -looking statements. Although Arctic Fox believes the expectations e xpressed in such forward -looking statements are based on reasonable
assumptions, such statements are not guarantees of future performance and actual results or developments may differ materiall y from those forward-looking
statements. Forward-looking statements in this press release include, but are not limited to, statements relating to: the closing of the potential change of
business of Arctic Fox; future share issuances and share transfers; the entering into of a definitive agreement relating to t he change of business; and future
approvals required in respect of the change of business; Factors that could cause actual results to differ materially from th ose in forward looking statements
include inability to enter into a definitive agreement with respect to the change of business; inability to secure any or all necessary approvals in order for the
change of business to occur; inability to find potential investors willing to invest in future private placements; market pri ces; disruptions relating to the
COVID-19 pandemic; and continued availability of capital and financing and general economic, market or business conditions. These s tatements are based
on a number of assumptions including, among other things, assumptions: regarding general business and economic conditions; that a definitive agreement
will be entered into with respect to the change of business; that financing will be secured on the terms as described in this press release or at all; that certain
securityholders will be willing and able to transfer their escrowed securities; and that all necessary approvals (regulatory and otherwise) required in respect
of the change of business and any proposed private placements will be obtained. Investors are cautioned that any such statements are not guarantees of future
performance and actual results or developments may differ materially from those projected in the forward-looking statements. Arctic Fox does not assume any
obligation to update or revise its forward -looking statements, whether as a result of new information, future events or otherwise, except as required by
applicable law.