Vatic Closes Private Placement Financing
VATIC VENTURES CORP.
VATIC VENTURES CORP.
1400-1040 WEST GEORGIA STREET
VANCOUVER, BC V6E 4H1, CANADA
EMAIL: [email protected]
TEL: 604-307-8745
VATIC CLOSES PRIVATE PLACEMENT FINANCING
Vancouver, B.C., November 9, 2022 – Vatic Ventures Corp. (the "Company" or
"Vatic") (TSXV: VCV; FRA: V8V) is pleased to announce that it has received approval
from the TSX Venture Exchange (the “Exchange”) to close its $0.20 unit private
placement financing (the “Financing”) for aggregate gross proceeds of $200,000. The
Company will now issue 1,000,000 $0.20 units, each Unit being comprised of 1 common
share of the Company and one half of a commo n share purchase warrant (the
“Warrants”), each full Warrant being exercisable for an additional common share of the
Company at $0.30 for 24 months.
3 insiders of the Company have participated in the Financing for a total of $82,500 or
412,500 Units, that portion of the Financing being a “related party transaction” as such
term is defined under MI 61-101 – Protection of Minority Security Holders in Special
Transactions. The Company will rely on exemptions from the formal valuation
requirement of MI-61-101 under sections 5.5(a) and (b) of MI 61-101 in respect of
the transaction as the fair market value of the transaction, insofar as it involves the
interested party, is not more than 25% of the Company’s market capitalization.
All securities issued pursuant to the Financing will be subject to a 4 month hold period.
The issuance of the Units are subject to the receipt of all regulatory approvals.
ABOUT VATIC VENTURES CORP.
Vatic has an option to acquire a 100% interest in a gold exploration property known as
the Hansen prospect located in the Chibougamau area of northern Quebec, which consists
of 20 contiguous mining claims representing a total area of 1,113.98 hectares is
approximately 15 kilometers southeast of the Chapais -Opemiska Mine Complex
(Springer, Perry and Cooke Copper-Gold mines).
ON BEHALF OF THE BOARD OF DIRECTORS OF VATIC VENTURES CORP.
“Loren Currie”
Loren Currie
CEO & Director
604-307-8745
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.