Everfront Ventures Corp. announces private placement
TORONTO, Oct. 29, 2013 /CNW/ - Everfront Ventures Corp. ("Everfront") (TSXV: EVC.P) is pleased to announce it has commenced a non-brokered private placement consisting of approximately 2,400,000 common shares at a purchase price of $0.05 for gross proceeds of $120,000 (the "Offering"). The Offering will be made by way of private placement exemptions in accordance with applicable securities laws in the Provinces of Ontario, Alberta and British Columbia.
Everfront has not retained an agent in connection with the Offering and no broker fees will be paid in connection therewith. The common shares issued as part of the Offering will be subject to a statutory hold period of 4-months plus one day following closing of the Offering in accordance with applicable securities legislation. No directors, officers or insiders of Everfront will be participating in the Offering.
The net proceeds from the Offering will be used to identify a potential qualifying transaction and for general corporate and working capital purposes.
Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Everfront Ventures Corp. is a capital pool company listed on the TSXV. Everfront was established pursuant to the CPC Policy which permits an initial public offering and a TSXV listing by a newly created company that has no assets, other than cash, and has not commenced commercial operations. The principal business of Everfront has been the identification and evaluation of assets with a view to completing a qualifying transaction.
SOURCE Everfront Ventures Corp.For further information:
Joshua Gerstein at (416) 479-8623