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Financings

Tocvan Ventures arranges $6-million private placement

By The Northwire Desk — AI Analysis Feb 04, 2026 · 02:26 TOC · 1.24 Tocvan Ventures Corp
TOC · Price

Executive Summary

  • Tocvan Ventures Corp. has entered into an agreement for a $6 million bought deal private placement offering of 6 million units at $1.00 per unit, with Stifel Canada acting as sole underwriter.
  • The offering includes an over-allotment option for up to 900,000 additional units, potentially increasing gross proceeds to $6.9 million.
  • Net proceeds will be used to advance the company's gold projects in Sonora, Mexico, and for general working capital.

Key Details

  • Transaction Structure: Bought deal private placement offering of 6,000,000 units.
  • Issue Price: $1.00 per unit.
  • Gross Proceeds: $6,000,000 (base); up to $6,900,000 if the over-allotment option is fully exercised.
  • Underwriter: Stifel Canada (sole underwriter and bookrunner).
  • Over-Allotment Option: Option to purchase up to 900,000 additional units at $1.00 per unit, exercisable up to 48 hours prior to closing.
  • Unit Composition: Each unit consists of one common share and one common share purchase warrant.
  • Warrant Terms (Investors):
    • Exercisable to acquire one common share.
    • Exercise Price: $1.40 per share.
    • Term: 36 months following the closing date.
  • Underwriter Compensation:
    • Cash Commission: 7.0% of gross proceeds.
    • Compensation Warrants: 7.0% of the number of units sold.
    • Compensation Warrant Terms: Entitle holder to acquire a common share at the issue price ($1.00) for a period of 24 months from the date of issue.
  • Use of Proceeds: Advancing gold projects in Sonora and general working capital.
  • Regulatory Exemptions: Offered pursuant to the listed issuer financing exemption under National Instrument 45-106 (Part 5A) for residents of Canada (except Quebec). Also offered in the US and other jurisdictions via private placement exemptions.
  • Hold Period: No statutory hold period applies due to the listed issuer financing exemption.
  • Closing Date: Expected on or about February 19, 2026.
  • Conditions: Subject to regulatory approvals, including acceptance by the Canadian Securities Exchange (CSE).

Notable Quotes

  • None provided in the text.
Read the original news release →

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