VANCOUVER, Feb. 15, 2019 /CNW/ - Antera Ventures I Corp. (the "Company") is pleased to announce that it has entered into an agreement with Haywood Securities Inc. (the "Agent") for the sale, on a commercially reasonable efforts private placement basis, of up to 3,636,363 common shares (the "Common Shares") of the Company at a price of $0.11 per Common Share for gross proceeds of up to $400,000 (the "Offering").
The Agent will be granted an over-allotment option, exercisable in whole or in part up until forty-eight hours prior to the closing date of the Offering (the "Closing Date"), to offer for sale up to an additional $100,000 of Common Shares sold pursuant to the Offering (the "Over-Allotment Option").
In connection with the Offering, the Agent will be entitled to receive cash commissions equal to 9.0% of the aggregate gross proceeds of the Offering.
Net proceeds from the Offering, including any proceeds received upon the exercise of the Over-Allotment Option granted to the Agent, are expected to be used to fund the search for a Qualifying Transaction (as defined under Policy 2.4 of the TSX Venture Exchange ("TSXV")) and for working capital and for general corporate purposes.
Completion of the Offering is subject to certain conditions, including the approval of the TSXV. All securities issued in connection with the Offering will be subject to a four-month hold period in accordance with applicable Canadian securities laws.
About Antera Ventures I Corp.
The Company is designated as a Capital Pool Company under TSXV Policy 2.4. The Company has not commenced commercial operations and has no assets other than cash. The purpose of the Offering is to provide the Company with additional funds to identify and evaluate businesses or assets with a view to completing a Qualifying Transaction. Any proposed Qualifying Transaction must be approved by the TSXV and, in the case of a non-arm's length Qualifying Transaction, must also receive majority approval of the minority shareholders. Until the completion of a Qualifying Transaction, the Company will not carry on any business other than the identification and evaluation of businesses or assets with a view to completing a proposed Qualifying Transaction.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward looking statements. Forward-looking statements in this news release include, but are not limited to, the approval of the TSXV for the Offering and the ability of the Company to complete a Qualifying Transaction. Any number of factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although the Company believes that the expectations reflected in forward looking statements are reasonable, it can give no assurances that the expectations of any forward looking statements will prove to be correct. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise.
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 release.
SOURCE Antera Ventures I Corp.
For further information: regarding the Company, the Offering, and the Company's management team, please contact Raj Dewan, Corporate Secretary, at (416) 865-7878 and see the Prospectus filed with the Company's disclosure documents on SEDAR at www.sedar.com.