Scotch Creek arranges $600,000 private placement

Executive Summary

• Scotch Creek Ventures Inc. has arranged a private placement financing of up to 12 million units at $0.05 per unit, raising gross proceeds of up to $600,000.
• Each unit comprises one common share and one share purchase warrant, with warrants exercisable at $0.075 per share for 24 months.
• Net proceeds are designated for retiring indebtedness and working capital purposes.

Key Details

• Financing Structure: Private placement of up to 12,000,000 units.
• Price: $0.05 per unit.
• Gross Proceeds: Up to $600,000.
• Unit Composition: Each unit consists of one common share and one share purchase warrant.
• Warrant Terms:
  • Entitles holder to purchase one additional share.
  • Exercise price: $0.075 per share.
  • Duration: 24 months from the date of issuance.
• Use of Proceeds: Retiring indebtedness and working capital purposes.
• Finder's Fees: The company will issue an updating news release if finders' fees are payable.