NEX- TSXV Trading Symbol: VEG.H
19,492,229 Common Shares Issued
CALGARY, June 2, 2014 /CNW/ - Captiva Verde Industries Ltd. ("Captiva Verde" or the "Company") is pleased to announce that it has negotiated a non-brokered private placement of 1,388,888 units (the "Units") at a price of $0.36 per Unit for proceeds of $500,000. Each Unit is comprised of one common share and one share purchase warrant. Each share purchase warrant entitles the holder to acquire one additional common share in the capital of the Company at a price of $0.50 per common share for a period of 24 months from the date the Warrants are issued.
In addition, the Company will pay a finder's fee comprised of a cash commission equal to 6% of the proceeds invested by certain investors and 6% finder's warrants (the "Finder's Warrants") entitling the finder to acquire common shares in the capital of the Company at a price of $0.50 per common share for a period of 24 months from the date that the Finder's Warrants are issued. The Warrants and Finder's Warrants will not be listed for trading. The placement is expected to close within 10 days. Use of proceeds will be general working capital.
The Finder is Dundee Capital Markets.
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.
This news release contains forward-looking statements. The Company has provided the forward-looking statements in reliance on assumptions that it believes are reasonable at this time. The reader is cautioned that the assumptions used in the preparation of the forward-looking statements may prove to be incorrect. All such forward-looking statements involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company's control. Such risks and uncertainties include, without limitation, delays resulting from or inability to obtain required regulatory approval. The actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do, what benefits, including the amount of proceeds, the Company will derive therefrom. Readers are cautioned that the foregoing list of factors is not exhaustive.
Not for disseminations in the United States or to US Persons.
SOURCE: Captiva Verde Industries Ltd.
For further information:
Chairman and Chief Executive Officer
9 Landport, Newport Beach,
California, USA 92660
Cell: (949) 903-5906
Office: (502) 275-0979