Alta Vista announces tranche one of financing closed
28.10.2015 | vom Unternehmen
Vancouver, BC -- October 28, 2015 -- Alta Vista Ventures Ltd. (AVV-CSE) is pleased to announce that it has filed all required paperwork, issued 1,620,000 units (each, a “Unit”) at a price of $0.05 per Unit for total proceeds of $81,000 and formally closed tranche one of its ongoing financing (see news release dated October 22, 2015). Each Unit consists of one previously unissued common share and one transferable purchase warrant (a “Warrant) of the Company. Each Warrant will entitle the holder, on exercise, to purchase one additional common share of the Company (a “Warrant Share”) for a period of 12 (twelve) months from the date of issue of the Warrant. The Warrants will be exercisable at a price of $0.075 per share. The warrants will have an acceleration clause such that if after the required hold period the shares in the Company trade at, or above, $0.12 for 10 consecutive trading days, the Company may give notice to the warrant holders that they have 30 days to exercise the warrants.
All securities issued pursuant to the placement are subject to a hold period until February 23, 2016 (four months and one day after closing) under applicable Canadian securities laws.
Alta Vista will use the proceeds of the private placement to advance the formal agreement for the acquisition of Thor Pharma (see news release dated Aug. 14, 2015) and for completing due diligence on additional opportunities.
A finders’ fee of 10% was paid to Foremost Capital Inc. on the funds received with the same terms as above.
About Alta Vista Ventures:
Alta Vista Ventures has signed a Letter of Intent to purchase Thor Pharma Ltd. Thor Pharma is based in Burlington Ontario and has an MMPR (Marijuana for Medical Purposes Regulations) application with Heath Canada that is in the Detailed Security Clearance stage of the application process. To view a video of the facility to be used by Thor Pharma please visit www.medicalmarihuana.net.
Investors are cautioned that the purchase of Thor Pharma remains subject to due diligence and the signing of a definitive agreement. Alta Vista cannot guarantee nor estimate the timing for the issuance of an MMPR license to Thor Pharma.
On behalf of the Board,
“Ian Foreman”
Ian Foreman, President
For information on Thor Pharma please contact Mr. Don Shaxon at 289-838-5938. For additional information on Alta Vista Ventures please call the Company at 604-678-2531.
Neither Canadian Securities Exchange (CSE) nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Statements in this press release, other than purely historical information, including statements relating to the Company’s future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.
News Release #15-7