Vatic Ventures Corp. (TSXV:VCV; OTCBB:VTTC; and Frankfurt:V8V3) (the “Company” or “Vatic”) wishes to provide an update to its shareholders regarding its offering of rights (each, a “Right” and together the “Rights Offering”).
Vatic Ventures Corp. (TSXV:VCV; OTCBB:VTTC; and Frankfurt:V8V3) (the “Company” or “Vatic”) wishes to provide an update to its shareholders regarding its offering of rights (each, a “Right” and together the “Rights Offering”). The Rights Offering was announced on June 18, 2018, will close on July 25 2018, and aims to raise gross proceeds of up to $2,347,703.
Only holders of Vatic’s common shares who are resident in Canada at the close of business on June 27, 2018 (the “Record Date”) are eligible, including those holders with common shares under a hold period. Every common share equates to one Right. Every 1.8 Rights entitle the holder to subscribe for one Unit of the Company (each, a “Unit”) at a price of $0.18 per Unit. Each Unit consists of one Common Share and one Common Share purchase warrant, with each Warrant entitling the holder to purchase an additional Common Share for two years at an exercise price of $0.25. The Units have no hold period and are immediately tradeable, which is different from a private placement, which typically has a 4 month hold.
Additionally, the Rights were listed for trading on the TSX Venture Exchange under the symbol “VCV.RT” on June 26, 2018, until July 25, 2018, 9:00 a.m. (Vancouver time), after which time unexercised Rights will be void and of no value. The Rights Offering includes an additional subscription privilege under which eligible holders of Rights, who fully exercise their Rights, are entitled to subscribe, on a pro rata basis with other shareholders who participate in the oversubscription, for Units that have not been purchased under the Rights Offering. The Warrants are listed for trading on the Exchange under the trading symbol “VCV.WT”.
Eligible shareholders should have received documents that provide information as to how to take down the Rights Offering. Shareholders who have not received these documents are advised to immediately contact their broker or the Company’s representative at Computershare Investor Services Inc. (Attn: Tom Liu). The Rights issued are documented by transferable Rights certificates (each, a “Rights Certificate”), which were mailed, together with a rights offering notice, to all registered holders of eligible Common Shares, including those holders with Common Shares under a hold period. Eligible registered shareholders who wish to exercise their Rights must forward a completed Rights Certificate, together with the applicable funds, to Computershare Investor Services Inc., on or before July 25, 2018. Shareholders who own their Common Shares through an intermediary, such as a bank, trust company, securities dealer or broker, should have received materials and instructions from their intermediary.
Further details are set out in Vatic’s rights offering circular and rights offering notice, filed under the Company’s profile at www.sedar.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Nasim Tyab, Director
ABOUT VATIC VENTURES CORP.
Vatic Ventures Corp. (www.vaticventures.com) is a junior exploration company and continues to assess new opportunities and prospects.
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.”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.” The information contained herein contains “forward-looking statements” within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be “forward-looking statements.” Forward-looking statements are subject to a variety of risks and uncertainties that could cause actual events or results to differ from those reflected in the forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company’s expectations or projections.