Captiva closes private placement
/NOT FOR DISSEMINATION IN THE UNITED STATES OR TO US PERSONS./
NEX – TSXV Trading Symbol: VEG.H
CALGARY, June 16, 2014 /CNW/ - Captiva Verde Industries Ltd. ("Captiva" or the "Company") is pleased to announce that further to its news release of June 2, 2014 it has closed its non-brokered private placement of units (the "Offering") for gross proceeds of approximately $500,000.
The closing consisted of 1,388,666 units (the "Units") at a price of $0.36 per Unit. Each Unit consists of one common share in the capital of the Company (a "Share") and one common share purchase warrant (a "Warrant"). Each Warrant entitles the holder to purchase one Share at a price of $0.50 per Share until June 16, 2015.
In connection with the Offering, the Company has paid finder's fees to Dundee Capital Markets (the "Finder") as follows: (i) a cash commission of $29,995.20 being 6% of the aggregate proceeds from the sale of Units to purchasers introduced by the Finder; and (ii) warrants (the "Finder's Warrants") to acquire a total of 83,319 Shares, being 6% of the number of Units sold under the Offering to purchasers introduced by the Finder. Each Finder's Warrant entitles the Finder to purchase one Share at a price of $0.50 per Share until June 16, 2015.
All securities issued under the Offering are subject to a statutory hold period ending on October 17, 2014 in accordance with applicable Canadian securities laws. The net proceeds of the Offering will be used for general working capital.
Neither 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 news release.
SOURCE Captiva Verde Industries Ltd.For further information: On behalf of the Board of Directors and for further information, please contact: Jeffrey Ciachurski, Chairman and Chief Executive Officer, Newport Beach, California, Cell: (949) 903-5906, E-mail: firstname.lastname@example.org; Mike Boyd, Director, Tucson, Arizona, Office: (502) 275-0979, E-mail: email@example.com