TORONTO, Nov. 12, 2013 /CNW/ - Everfront Ventures Corp. ("Everfront") (TSXV: EVC.P) is pleased to announce it has completed its previously announced non-brokered private placement consisting of approximately 2,400,000 common shares at a purchase price of $0.05 for gross proceeds of $120,000 (the "Offering"). Everfront has not retained an agent in connection with the Offering and no broker fees have been paid in connection therewith. The common shares issued as part of the Offering are subject to a statutory hold period which will expire 4-months plus one day following closing of the Offering in accordance with applicable securities legislation. No directors, officers or insiders of Everfront have participated in the Offering.
The net proceeds from the Offering will be used to identify a potential qualifying transaction and for general corporate and working capital purposes.
Neither the TSX Venture Exchange ("TSXV") nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Everfront Ventures Corp. is a capital pool company listed on the TSXV. Everfront was established pursuant to TSXV Policy 2.4 - Capital Pool Companies which permits an initial public offering and a TSXV listing by a newly created company that has no assets, other than cash, and has not commenced commercial operations. The principal business of Everfront has been the identification and evaluation of assets with a view to completing a qualifying transaction.
SOURCE: Everfront Ventures Corp.
For further information:
Joshua Gerstein at (416) 479-8623