TSX Venture Exchange: DVV
Frankfurt Stock Exchange: DV1
VANCOUVER, July 24, 2012 /CNW/ - Driven Capital Corp. (TSXV: DVV) (FSE: DV1) ("Driven" or the "Company") has arranged a non-brokered private placement to raise up to $720,000
in gross proceeds through the sale of up to 12,000,000 units at $0.06
Each unit will consist of one common share and one non-transferrable
share purchase warrant entitling its holder to purchase one additional
common share for five years following the closing date of the private
placement, at a price of $0.12 per share for the first year, $0.18 for
the second year, $0.24 for the third year, and $0.30 for the fourth
year and $0.36 for the fifth year.
Finder's fees may be payable in connection with the private placement as
permitted under the policies of the TSX Venture Exchange (the
Driven intends to utilize the net proceeds of the private placement to
continue mineral exploration on its three projects, and for general
The offering is anticipated to close on or about July 31, 2012 and is subject to the receipt of applicable regulatory approvals. The
securities issued by the Company pursuant to the offering will be
subject to a four-month hold period as prescribed by the Exchange and
applicable securities laws.
Driven Capital Corp. is deploying its accomplished technical and management team toward the
exploration of its portfolio of highly prospective precious metals
projects in the Yukon and British Columbia.
On Behalf of the Board of Directors of Driven Capital Corp.
Toma Sojonky, President & CEO
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.
Cautionary Statement Regarding Forward-Looking Information: All
statements, trend analysis and other information contained in this
press release relative to markets about anticipated future events or
results constitute forward-looking statements. Forward-looking
statements are often, but not always, identified by the use of words
such as "seek", "anticipate", "believe", "plan", "estimate", "expect"
and "intend" and statements that an event or result "may", "will",
"should", "could" or "might" occur or be achieved and other similar
expressions. Forward-looking statements are subject to business and
economic risks and uncertainties and other factors that could cause
actual results of operations to differ materially from those contained
in the forward-looking statements. Forward-looking statements are based
on estimates and opinions of management at the date the statements are
made. The Company does not undertake any obligation to update
forward-looking statements even if circumstances or management's
estimates or opinions should change. Investors should not place undue
reliance on forward-looking statements.
SOURCE: Driven Capital Corp.
For further information:
please contact Toma Sojonky, President & CEO, at (604) 569-0799, or visit www.DrivenCapital.ca.