TSX Venture Exchange: CQV
Frankfurt Stock Exchange: DFM
ST. JOHN'S, NL, Sept. 8 /CNW/ - Canadian Imperial Venture Corp. ("CIVC" /
the "Company") is pleased to announce the final closing of the non-brokered
private placement previously announced on June 3, 2009. The private placement
had three closings whereby a total of 42,000,000 Units and 11,750,000
Flow-through Shares were sold for proceeds of $1,075,000. Under the final
closing, a total of 2,500,000 Units and 4,500,000 Flow-through Shares were
sold for proceeds of $140,000. All securities purchased under this closing
will have a four-month hold period, which expires January 5, 2010.
The proceeds from the private placement will be used for additional
exploration on the Company's properties in Western Newfoundland and in Alberta
and for working capital. Each Unit consists of one common share in the capital
of the Company and one-half of one non- transferable share purchase warrant
("Warrant"). One whole Warrant will entitle the holder to buy an additional
share in the capital of the Company for a period of two years at a price of
$0.05 per share during the first year and at a price of $0.10 per share during
the remaining term of the Warrant.
Canadian Imperial Venture Corp. is an independent Canadian-based energy
company with interests in petroleum exploration and development in western
Newfoundland and in western Canada. Eastern Canada is the home to such
developments as the Hibernia, Terra Nova, White Rose, Sable Island, Deep
Panuke, and McCully fields.
CANADIAN IMPERIAL VENTURE CORP.
By: "Gerard Edwards"
Gerard Edwards, MBA
Chief Financial Officer
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.
For further information:
For further information: Canadian Imperial Venture Corp. (709) 739-6700,
Fax: (709) 739-6605, firstname.lastname@example.org, website: