Zenyatta Ventures Announces $2-million Private Placement

Zenyatta Ventures Ltd. (TSXV:ZEN) announced plans to raise $2 million via a non-brokered private placement. Units consisting of one common share and half of one common share purchase warrant will be sold for $1.25 each.
As quoted in the press release:

Each Unit will consist of one Common Share and one-half of one Common Share purchase warrant (a “Warrant”). Each Warrant will entitle the holder to acquire one Common for $1.65 for a period of 12 months from the date of issuance.
The securities issued pursuant to the Offering will be subject to a four month and one day statutory hold period. Zenyatta intends to use the net proceeds from the Offering for market and business development, material testing and general working capital purposes.

Click here to read the full Zenyatta Ventures Ltd. (TSXV:ZEN) press release.