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Vatic Ventures Corp. (the “Company” or “Vatic”) (NEX VCV.H and Frankfurt: V8V) announces that, subject to the approval of the TSX Venture Exchange, it has increased its private placement financing, previously announced December 7, 2017 from $250,000 to up to $500,000.
Vatic Ventures Corp. (TSXV:VCV) announces that, subject to the approval of the TSX Venture Exchange, it has increased its private placement financing, previously announced December 7, 2017 from $250,000 to up to $500,000. The private placement is comprised of units (the “Units”) at a price of 5 cents ($0.05) per Unit. Each Unit shall be comprised of one common share in the capital of the Company and one common share purchase warrant (the “Unit Warrants”) with each Unit Warrant entitling the holder to acquire one additional common share at a price of $0.10 per share for 12 months from closing.
The funds from the financing will be used to conduct further development on its potash licenses in Thailand held by its subsidiary Saksrithai Development Co. Ltd. and for working capital purposes. Although the Company will have the usual forty-five day period in which to complete the private placement it anticipates that it will close within the next week or two. All securities to be issued under this private placement will be subject to a four-month resale restriction. Finder’s fees on the financing may be payable in accordance with regulatory policies.
About Saksrithai Development Co. Ltd: Saksrithai Development Co. Ltd. (Saksrithai) is a private Thai company which is the holder of two contiguous Special Prospecting Licences (SPLs) for potash exploration, issued in 2015.
The licenses encompass an area of 32 km2 in Nakhon Ratchasima province, northeast Thailand and are adjacent to the Thai Kali Company’s Dan Khun Thot potash mine which is currently under construction. ASEAN Potash Chaiyaphum Plc’s Bamnet Narong mine, also under construction, is located some 40 km from the Saksrithai project.
The Company holds an 80% shareholding in Saksrithai and Dr. Gerry Wright acts as Saksrithai’s Managing Director.
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 exploring and developing potash licenses in Thailand.
“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.
Source: vaticventures.com