Alta Vista Ventures Ltd. (TSX-V – AVV) is pleased to announce that final approval has been received from the TSX Venture Exchange for its previously announced non-brokered private placement (please see news releases dated May 13 2014) of 6,000,000 units at a price of $0.05 per Unit for gross proceeds of $300,000. A unit consists of one common share and one transferable common share purchase warrant valid for one year that will entitle the holder to purchase one additional common share at a price of $0.075. The warrants will expire on May 30, 2015. The shares forming part of the units and the shares acquired on exercise of the warrants are subject to restrictions on resale until September 30, 2014.
The Company paid a total of $5,000 and issued 200,000 warrants to Haywood Securities Inc. as finder’s fees on a portion of the financing. The terms for these warrants are the same as those of the financing.
In addition, the Company reports that company President and Director, Ian Foreman, has participated in the placement acquiring 1,300,000 units thereby increasing his holdings to 1,643,942 shares representing 14.78% of the company’s issued and outstanding shares. The units were acquired for investment purposes.
Proceeds of the placement will be applied to general working capital and on the Company’s properties.
On behalf of the Board,
Ian Foreman, P.Geo.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Statements in this press release, other than purely historical information, including statements relating to the Company’s future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.