Planet Ventures arranges $5-million financing

Executive Summary

• Planet Ventures Inc. announced a non‑brokered private placement (“Life Offering”) of up to 100 million common shares at C$0.05 per share, targeting gross proceeds of up to C$5 million.
• The offering is being made under the listed issuer financing exemption (NI 45‑106) to Canadian investors (excluding Quebec) and the shares will carry no statutory hold period.
• Net proceeds are earmarked for future investments and general working capital; closing may occur in one or more tranches as soon as practicable, subject to customary conditions.

Key Details

• Offering Size: Up to 100 million common shares.
• Price per Share: C$0.05.
• Maximum Gross Proceeds: C$5 million.
• Exemption Used: Listed issuer financing exemption under Part 5A of National Instrument 45‑106, coordinated blanket order 45‑935.
• Investor Eligibility: Residents of all Canadian provinces except Quebec.
• Hold Period: None – shares will not be subject to a statutory hold period.
• Use of Proceeds: Future investments and general working capital.
• Closing Timeline: Expected “as soon as practicable,” potentially in multiple tranches.
• Conditions: Subject to receipt of all necessary approvals and other customary closing conditions.
• Finder’s Fee: Company may pay a finder’s fee to eligible arm‑length finders per CSE policies.
• Documentation: Offering document will be filed on SEDAR+ and posted on the company website; prospective investors are urged to review it before investing.

Notable Quotes

(No direct quotes were provided in the release.)