Tocvan Closes Oversubscribed Private Placement for $3.15 Million
Tocvan Closes Oversubscribed Private Placement for $3.15 Million
Calgary, Alberta – February 18 , 2025 – Tocvan Ventures Corp. (the “ Company”) (CSE: TOC; OTCQB: TCVNF ; WKN: TV3/A2PE64),
is pleased to announce that it has closed a final tranche of its previously announced non-brokered private placement of Units (“Units”)
for gross proceeds of $1,045,267.20 (the “Offering”), this is in addition to the $2,105,320 closed in the first tranche (December 11, 2024
News Release). The second tranche of the Offering consisted of the issuance of an aggregate of 2, 177,640 Units at a price of $0.48 per
Unit. Each Unit consists of one common share (“ Common Share ”) in the capital of the Company and one common share purchase
warrant (“ Warrant”). Each Warrant will entitle the holder thereof to acquire one additional Common Share in the capital of the
Company at a price of $0.75 for a period of 36 months from the closing of the Offering.
In connection with the Offering, the Company paid aggregate cash commissions to arm’s length finders who assisted with the Of fering
of approximately $39,744 and issued 82,800 finders’ warrants (“Finders’ Warrants”). Each Finder’s Warrant is exercisable at a price of
$0.48 per Common Share for a period of 36 months from the closing of the Offering.
The Units under the Offering are subject to a statutory hold period of four months plus a day from the date of issuance in accordance
with applicable securities legislation in Canada.
“Excited to see great support for our Company and our plans to advance expanding gold and silver targets in mine-friendly Sonora.”
commented, CEO Brodie Sutherland. “With the financing closed we now focus on the next steps quickly advancing us towards
resource estimation, new discovery potential and test mining. Our approach has two important fronts: 1) derisking project
development through permitting and test mining; 2) the rapidly advancing resource potential of our broader expansion area where
we believe two separate mineralized systems of significant size remain untapped for potential.”
Use of Proceeds
The proceeds of the raise will go towards the advancement of the Gran Pilar Au -Ag project in Sonora, Mexico.
Update on Drilling
Results for the first ever drilling on the 100% controlled expansion area are pending for four Reverse Circulation (RC) drill holes. All
samples for the four RC drill holes are at the lab for assay. First results from the program are expected to be available soon. An additional
ten core drill holes were completed across the majority controlled Main Zone. Samples for the first three core drill holes are at the lab
for assay. First results for the core program are expected in March.
CSE: TOC | OTCQB: TCVNF | FSE: TV3
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Figure 1. Western side of Gran Pilar Southern Block. Target map with recently completed drillholes. Pending RC drill results
for the 100% controlled expansion area (black dots and traces).
About Tocvan Ventures Corp.
Tocvan’s advancing gold -silver projects are located in the mine -friendly jurisdiction of Sonora, Mexico. Through ongoing exploration
programs, Company is unveiling the high -potential at its Gran Pilar Gold-Silver Project where it holds 100% interests in ov er 21 square
kilometers of prospective area and a majority ownership (51%) in a one square kilometer area shared with Colibri Resources. T he
Company also holds 100% interest in the Picacho Gold-Silver project in the Caborca Trend of northern Sonora, a trend host to some of
the major gold deposits of the region. Management feels both projects represent tremendous opportunity to create shareholder value.
Tocvan currently has 58,893,995 shares outstanding.
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Quality Assurance / Quality Control
Rock samples were shipped for sample preparation to ALS Limited in Hermosillo, Sonora, Mexico and for analysis at the ALS laboratory
in North Vancouver. The ALS Hermosillo and North Vancouver facilities are ISO 9001 and ISO/IEC 17025 certified. Gold was an alyzed
using 50-gram nominal weight fire assay with atomic absorption spectroscopy finish. Over limits for gold (>10 g/t), were analyzed using
fire assay with a gravimetric finish. Silver and other elements were analyzed using a four -acid digestion with an ICP finish. Over limit
analyses for silver (>100 g/t) were re- assayed using an ore -grade four-acid digestion with ICP -AES finish. Control samples comprising
certified reference samples and blank samples were systematically inserted into the sample stream and analyzed as part of the
Company’s robust quality assurance / quality control protocol.
Soil Samples were shipped for sample preparation to ALS Limited in Hermosillo, Sonora, Mexico and for analysis at the ALS laboratory
in North Vancouver. The ALS Hermosillo and North Vancouver facilities are ISO 9001 and ISO/IEC 17025 certified. Gold and mult i-
element analysis of soils was completed by aqua regia digestion and ICP -MS finish using a 50- gram nominal weight. Over limit gold
values greater than 1 g/t were re-assayed with a more robust aqua regia digestion ad ICP-MS finish. Over limit analyses for silver (>100
g/t) were re-assayed using an ore-grade four-acid digestion with ICP-AES finish. Control samples comprising blank samples and certified
reference materials were systematically inserted into the sample stream and analyzed as part of the Compa ny’s robust quality
assurance / quality control protocol.
Brodie A. Sutherland, CEO for Tocvan Ventures Corp. and a qualified person ("QP") as defined by Canadian National Instrument 43-101,
has reviewed and approved the technical information contained in this release.
Cautionary Statement Regarding Forward Looking Statements
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 release.
This news release contains “forward -looking information” which may include, but is not limited to, statements with respect to the
activities, events or developments that the Company expects or anticipates will or may occur in the future. Forward-looking information
in this news release includes statements regarding the use of proceeds from the Offering. Such forward- looking information is often,
but not always, identified by the use of words and phrases such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”,
“forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or state that
certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occ ur or be achieved.
These forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current
judgment regarding the direction of our business. Management believes that these assumptions are reasonable. Forward -looking
information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or
achievements of the Company to be materially different from any future results, performance or achievements expressed or impl ied by
the forward-looking information. Such factors include, among others, risks related to the speculative nature of the Company’s business,
the Company’s formative stage of development and the Company’s financial position. Forward-looking statements contained herein are
made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether
as a result of new information, future events or results, except as may be r equired by applicable securities laws.
There can be no assurance that forward- looking information will prove to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward -looking
information.
FOR MORE INFORMATION, PLEASE CONTACT:
TOCVAN VENTURES CORP.
Brodie A. Sutherland, CEO
820-1130 West Pender St.
Vancouver, BC V6E 4A4
Telephone: 1 888 772 2452
Email: [email protected]
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Web: tocvan.com
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the Uni ted States. The
securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act")
or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the
U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.