Cavan Announces Closing of Flow-Through Private Placement
Phone: 604-683-3995/ Toll Free: 888-945-4770/Fax: 604-683-3988
CAVAN ANNOUNCES CLOSING OF FLOW-THROUGH PRIVATE PLACEMENT
June 6, 2014, VANCOUVER, B.C. – CAVAN VENTURES INC. (TSX-V:CVN) (“Cavan” or the "Company”) announces that, further to its news releases dated March 28, 2014, April 10, 2014 and May 16, 2014, the Company has completed its non-brokered private placement of 1,850,000 flow-through units (the "Units") at a price of $0.05 per Unit for gross proceeds of $92,500 (the "Offering").
Each Unit is comprised of one flow-through common share in the capital of the Company ("FT Share") and one non-flow-through share purchase warrant of the Company ("Warrant"). Each Warrant will entitle the holder to purchase one non flow-through common share in the capital of the Company (a "Warrant Share") at an exercise price of $0.075 per Warrant Share until December 6, 2015.
The Company issued to the finder under the Offering a total of 93,000 finder's warrants ("Finder's Warrants") to purchase up to 93,000 non flow-through common shares ("Finder's Warrant Shares") in the capital of the Company at a price of $0.075 for a period of 18 months. In addition, the Company paid a cash commission of $4,650 to the finder.
All securities issued pursuant to the Offering are subject to a hold period expiring on October 7, 2014.
The proceeds from the private placement will be used for advancing two of its 100-per-cent-owned graphite projects, the Buckingham graphite project in the Buckingham Valley area of southwestern Quebec adjacent to the old Walker mine and the Tetepiska graphite property in northeastern Quebec, located 24 kilometres southwest of the Lac Gueret graphite project that is presently under advanced exploration by Mason Graphite.
Cavan Venture’s mission is to identify, acquire, and advance high potential mining prospects located in North America for the benefit of its stakeholders. For more information visit the website at www.cavanventuresinc.com.
ON BEHALF OF THE BOARD
Peter P. Swistak, President
FOR FURTHER INFORMATION PLEASE CONTACT:
Telephone: 1-604-683-3995 Toll Free: 1-888-945-4770
Forward-Looking Statement:
Some statements in this news release contain forward-looking information that involves inherent risk and uncertainty affecting the business of Cavan Ventures Inc. Actual results may differ materially from those currently anticipated in such statements. 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.