Financings
Starlo Ventures arranges $750,000 private placement
SLO · Price
Executive Summary
- Starlo Ventures Ltd. announced a non‑brokered private placement of up to 15 million units at $0.05 per unit, targeting gross proceeds of up to $750,000.
- Each unit consists of one common share and one warrant to purchase an additional common share at $0.05 for three years.
- Net proceeds will be used for general corporate working capital; the placement requires CSE approval and shareholder written consent due to dilution exceeding 100 % of current share capital.
Key Details
- Placement Size: Up to 15,000,000 units.
- Price per Unit: $0.05 (five cents).
- Gross Proceeds Target: Up to $750,000.
- Unit Composition: 1 common share + 1 common‑share purchase warrant (exercise price $0.05, exercisable for three years from issuance).
- Regulatory Requirements: Subject to approval by the Canadian Securities Exchange; shareholder written consent required because the issuance exceeds 100 % of current issued and outstanding share capital.
- Statutory Hold Period: All securities subject to a hold period expiring four months and one day after closing.
- Use of Proceeds: General corporate working capital purposes.
Notable Quotes
(No CEO/President quotes provided in the release.)