Tocvan Announces Closing of Bought Deal Financing for $10 Million

Executive Summary

• Tocvan Ventures Corp. closed a bought‑deal private placement of 10,005,000 units at $1.00 per unit, generating gross proceeds of $10,005,000.
• Each unit consists of one common share and one warrant; the warrants are exercisable for an additional share at $1.40 within 36 months.
• Net proceeds will be used to advance gold projects in Sonora, Mexico and for general working capital.

Key Details

• Units sold: 10,005,000 (including full exercise of underwriter’s over‑allotment option).
• Price per unit: $1.00; aggregate gross proceeds: $10,005,000.
• Unit composition: 1 common share + 1 common share purchase warrant.
• Warrant terms: Exercisable for one additional common share at $1.40 per share, valid for 36 months from closing.
• Underwriter compensation: Cash commission of 7.0% of gross proceeds plus compensation warrants equal to 7.0% of units sold.
• Compensation warrant terms: Entitle holder to acquire a common share at the issue price for 24 months from issuance.
• Use of proceeds: Advancement of gold projects in Sonora, Mexico; general working capital.
• Regulatory compliance: Offered under NI 45‑106 listed issuer financing exemption (Canada, except Quebec) and U.S. private placement exemptions; no statutory hold period applicable.
• Related party participation: Insiders Christopher Gordon (officer) and Anna Ladd‑Kruger (director) participated; transaction qualified as a related‑party transaction exempt from formal valuation or minority shareholder approval under MI 61‑101.

Notable Quotes

• “The successful closing of this financing provides us with the capital needed to accelerate development at our flagship Gran Pilar Gold‑Silver Project and other high‑potential assets in Sonora,” – Brodie A. Sutherland, CEO.