TORONTO, Sept. 6, 2016 /CNW/ - Valencia Ventures Inc. (NEX: VVI.H) ("Valencia" or the "Company") intends to complete a non-brokered private placement financing of up to 2,000,000 Valencia common shares at a price of $0.08 per share for gross proceeds of up to $160,000.
Closing of the financing is expected to occur on or about September 9, 2016. The shares to be issued by Valencia will be subject to a statutory hold period of four months and one day. Completion of the financing is subject to a number of conditions including receipt of TSX Venture Exchange approval.
Valencia intends to use the proceeds for general corporate purposes and to identify and pursue opportunities to reactivate its business.
About Valencia Ventures Inc.
Valencia is a Canadian resource company with common shares that trade on the NEX Board of the TSX Venture Exchange under the symbol "VVI".
Forward Looking Information – Cautionary Statement
This press release contains "forward looking information" within the meaning of applicable Canadian securities legislation. Forward looking information includes without limitation, statements regarding the timing of the private placement, the use of proceeds of the private placement and the Company's ability to identify business opportunities and reactivate its business. Generally, forward looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of current exploration activities; other risks of the mining industry and the risks described in the public disclosure documents of the Company. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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.
SOURCE Valencia Ventures Inc.
For further information: Damian Lopez, President and CEO, Phone: (416) 861-2269, E-mail: [email protected]