ST. JOHN'S, March 22, 2013 /CNW/ - Canadian Imperial Venture Corp.
(TSXV: CQV) (the "Company") is arranging a non-brokered private
placement (the "Private Placement") of up to 15 million units (the
"Units") at a price of $0.05 each, to raise up to $750,000. Each Unit
consists of one common share in the capital of the Company and 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 $0.10.
Certain insiders of the Company may acquire Units under the Private
Placement. Pursuant to Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") and the Policies of the TSX Venture Exchange ("TSXV"), any
such participation would be considered to be a "related party
transaction" as defined under MI 61-101. The transaction will be
exempt from the formal valuation and minority shareholder approval
requirements of MI 61-101 as neither the fair market value of any Units
issued to, nor the consideration paid by, such persons will exceed 25%
of the Company's market capitalization calculated in accordance with
The Company may pay finder's fees or commissions in the private
placement. The common shares sold in the private placement, any shares
acquired upon exercise of the Warrants and any securities issued in
payment of finder's fees will be subject to a four-month hold period.
The proceeds from the private placement will be used for working
capital. The private placement is subject to regulatory acceptance.
Canadian Imperial Venture Corp. is an independent Canadian-based
CANADIAN IMPERIAL VENTURE CORP.
By: "Gerard Edwards"
Gerard M. Edwards
President and CEO
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ACCURACY OF THIS PRESS RELEASE.
This release includes certain forward looking statements which reflect
beliefs, expectations, objectives and goals which are believed to be
reasonable at the time such statements are made. Actual results could
differ materially from anticipated results and may be impacted upon
such factors as commodity prices, political developments, legal
decisions, market and economic conditions, industry competition, the
weather, changes in financial markets and changing legislation.
SOURCE: CANADIAN IMPERIAL VENTURE CORP.
For further information:
Canadian Imperial Venture Corp.
P.O. Box 6232, Stn. C
St. John's, NL A1C 6J9
Tel.: (709) 739-6700 / Fax: (709) 739-6605 / E-mail: email@example.com / website: