Napier Ventures Closes First Tranche of Non-Brokered Private Placement
VANCOUVER, August 22, 2018 - Napier Ventures Inc. (TSX.V: NAP) ("Napier" or the "Company") announces that it has closed the first tranche of its non-brokered private placement for gross proceeds of $246,749.95 comprised of 704,999 Units at a price of $0.35 per Unit. Each Unit consists of one common share in the capital of Napier Ventures Inc. (the "Common Shares") and one Common Share Purchase Warrant (the "Warrants"). Each Warrant will be exercisable into one Common Share for a period of two years at a price of $0.50/share.
In connection with this tranche of the financing, the Company will pay Finder's Fees of $11,200.00 in cash and 32,000 warrants.
The securities issued in connection with the Offering will be subject to a hold period expiring four months and one day from the date of issuance of the securities. The completion of the private placement and payment of any commission and fees remains subject to the receipt of all necessary approvals, including the approval of the TSX Venture Exchange. Proceeds from the Offering will be used for working capital.
About Napier Ventures
Listed on the TSX Venture Exchange (TSX.V: NAP), Napier Ventures Inc. is a Vancouver based, junior mineral exploration Company managed by a team of professionals with extensive experience in mining exploration, finance and law. Management is dedicated to advancing the Company and increasing shareholder value by engaging in the search for value-adding mineral deposits through exploration and/or acquisition, as well as other resource opportunities as they may arise.
On behalf of the board of
Per: "Donald Scoretz"
Donald Scoretz
Chief Executive Officer
Safe Harbour for Forward-Looking Information: This press release may contain forward-looking information based on management's expectations, estimates and projections. All statements that address expectations or projections about the future, including statements about the completion of the Private Placement, the use of proceeds of the Private Placement and contemplated approvals of the TSXV. These statements are not a guarantee of future performance and involve a number of risks, uncertainties and assumptions. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements 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 statements. The Company assumes no obligation to update forward-looking information except as required by law.
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.
To reach Napier Ventures Inc. please contact:
Earl Hope | (604) 639-0009 | earl@napierventuresinc.com