Interconnect to acquire four claims on Vancouver Island

Transaction Overview

• Interconnect Ventures Corp. has entered into a mineral property purchase agreement to acquire four claims totaling 2,169.94 hectares near Sayward, B.C., on northern Vancouver Island.
• The acquisition cost is $45,000 in cash payable within five business days after TSX Venture Exchange acceptance.
• Concurrently, the company is launching a non-brokered private placement offering up to 10 million units at $0.05 per unit.

Capital Adequacy Concerns

• The $500,000 raise is minimal for a mining exploration company; it barely covers the acquisition cost ($45k) and administrative expenses.
• Working capital remaining after closing will be extremely limited, suggesting an immediate need for further financing in the near future.
• Warrants are issued at-the-money (Issue price $0.05, Exercise price $0.05), creating significant potential dilution if exercised or if a follow-on raise is required soon.

Corporate Identity

• Current Name: Interconnect Ventures Corp.
• Proposed Name: Eryxion Resources Corp.
• Current Listing: NEX (National Exchange).
• Target Listing: TSX Venture Exchange (TSXV) Tier 2 Mining Issuer.