OAKVILLE, ON, Aug. 27, 2015 /CNW/ - Canoe Mining Ventures Corp. (TSXV: CLV) ("Canoe") announces it is arranging a non-brokered private placement of up to 6,000,000 common shares of Canoe at a price of $0.05 per share for total gross proceeds of up to $300,000 (the "Private Placement"). Management, directors, and insiders of Canoe intend on participating in the Private Placement, the net proceeds of which are to be used for general working capital purposes.
The Private Placement is subject to the receipt of all required regulatory and exchange approvals, and is expected to close on or before September 15, 2015.
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 news release.
On Behalf of the Board of Directors of Canoe,
Duane Parnham, President and CEO
Forward Looking Statements
This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release or other future plans, objectives or expectations of Canoe are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Canoe's plans or expectations include risks relating to the actual results of current exploration activities, fluctuating gold prices, possibility of equipment breakdowns and delays, exploration cost overruns, availability of capital and financing, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by Canoe with securities regulators. Canoe expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.
SOURCE Canoe Mining Ventures Corp.
For further information: Luke Vigeant, Manager, Investor Relations, Canoe Mining Ventures Corp., Tel: 1.905.844.7612, Email: [email protected]