TSX Venture Exchange: CQV
Frankfurt Stock Exchange: DFM
ST. JOHN'S, NL, Aug. 3 /CNW/ - Canadian Imperial Venture Corp. ("CIVC" /
the "Company") is pleased to announce the First Closing of the non-brokered
private placement previously announced on June 3, 2009.
Upon the First Closing, a total of 28,000,000 Units and 2,000,000
Flow-through Shares were sold for proceeds of $600,000. 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
All stock purchased under this private placement will have a four-month
hold period, which expires December 1, 2009.
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,