Alta Vista Ventures Ltd. announces close of financing
06.11.2015 | vom Unternehmen
Vancouver, BC -- November 6, 2015 -- Alta Vista Ventures Ltd. (AVV-CSE) is pleased to announce that it has filed all required paperwork, issued 3,330,000 units (each, a “Unit”) at a price of $0.05 per Unit for total proceeds of $166,500 as tranche 2 of its financing (see news release dated November 3, 2015). The financing is formally closed with total proceeds of $247,500. All securities issued pursuant to tranche 2 of the placement are subject to a hold period until March 5, 2016 (four months and one day after closing) under applicable Canadian securities laws. Each Unit consists of one previously unissued common share and one transferable purchase warrant (a “Warrant) of the Company. Each Warrant issued in tranche 2 entitles the holder, on exercise, to purchase one additional common share of the Company (a “Warrant Share”) until November 4, 2016. 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.
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), advancing additional opportunities, and for corporate purposes.
A finders’ fee of $10,050 and 201,000 warrants was paid to Foremost Capital Inc., $1,000 and 20,000 warrants to Wolverton Securities, and $1,500 and 30,000 warrants to PI Financial were paid in association with tranche 2. The warrants issued have 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 #15-9