Zenyatta Ventures Closes $2.1-million Private Placement

Zenyatta Ventures Ltd. (TSXV:ZEN) announced that it’s closed a previously announced non-brokered private placement for aggregate gross proceeds of up to $2,112,500. The company sold 1,690,000 units priced at $1.25 each.
As quoted in the press release:

Each Unit consists of one Common Share and one-half of one Common Share purchase warrant (a “Warrant”). Each Warrant entitles 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 are 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.  Cash finder fees aggregating $112,950 were paid pursuant to the Offering.

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