Canoe Mining Ventures arranges $400,000 financing

Executive Summary

• Canoe Mining Ventures Corp. announced a non-brokered private placement to raise up to $400,000.
• The company intends to issue up to 8,000,000 units at a price of $0.05 per unit.
• Proceeds will be used for acquiring new mineral exploration properties, advancing existing projects, and general working capital.

Key Details

• Transaction Type: Non-brokered private placement.
• Units Issued: Up to 8,000,000 units.
• Price Per Unit: $0.05.
• Gross Proceeds: Up to $400,000.
• Unit Composition: Each unit consists of one common share and one-half of one common share purchase warrant.
• Warrant Terms: Each warrant entitles the holder to purchase one common share at an exercise price of $0.08 per share.
• Warrant Expiry: 36 months from the date of issuance.
• Use of Proceeds: Acquisition and evaluation of new mineral exploration properties, advancement of existing projects, and general working capital/corporate purposes.
• Conditions Precedent: Closing is subject to corporate and regulatory approvals, including TSX Venture Exchange approval.
• Hold Period: Securities are subject to a hold period of four months plus one day from the date of issuance.

Notable Quotes

• None provided in the text.