Pinetown Ventures Closes Non-Brokered Private Placement and Debt Settlement

Executive Summary

• Pinetown Ventures Corp. closed a non‑brokered private placement of 6,638,000 units at $0.025 per unit, raising gross proceeds of $165,950 for general working capital.
• The company settled $170,000 of indebtedness by issuing 3,400,000 units to creditors at a deemed price of $0.05 per unit.
• Each issued unit includes one common share and one warrant exercisable at $0.10 per share for four years; all securities are subject to a four‑month hold period.

Key Details

• Private Placement: 6,638,000 units @ $0.025/unit → Gross proceeds: $165,950 (net used for working capital).
• Unit composition: 1 common share + 1 warrant; warrant exercise price $0.10 per share, exercisable for 4 years.
• Debt Settlement: $170,000 of debt extinguished by issuing 3,400,000 units at a deemed $0.05/unit.
• Settlement Units: Same composition as private placement (1 common share + 1 warrant, same exercise terms).
• Resale restrictions: Hold period of four months and one day per Canadian securities law unless otherwise permitted.
• Exemptions used: National Instrument 45‑106 prospectus exemptions; no finder’s fees paid.

Notable Quotes

(No executive quotes provided in the release.)