Vancouver, B.C., December 8, 2022 – Vatic Ventures Corp. (the “Company” or “Vatic“) (TSXV: VCV; FRA: V8V) announces that it has filed documents with the TSX Venture Exchange (the “Exchange”) seeking approval to close its $0.23 flow-through unit private placement financing (the “Financing”) for aggregate gross proceeds of $568,000. On receipt of Exchange approval, the Company will issue 2,600,000 $0.23 flow-through units (“FT Units”), each FT Unit being comprised of 1 flow-through common share of the Company and one half of a common share purchase warrant (the “Warrants”), each full Warrant being exercisable for an additional non flow-through common share of the Company at $0.40 for 24 months. Cash finders fees and broker warrants may be issued in accordance with Exchange policy.
All securities issued pursuant to the Financing will be subject to a 4 month hold period. The issuance of the Units are subject to the receipt of all regulatory approvals.
The Company will use an amount equal to the gross proceeds received by the Company from the sale of the FT Units, pursuant to the provisions in the Income Tax Act (Canada), to incur eligible “Canadian exploration expenses” that qualify as “flow-through mining expenditures” as both terms are defined in the Income Tax Act (Canada) (the “Qualifying Expenditures”) on or before December 31, 2023, and to renounce all of the Qualifying Expenditures in favour of the subscribers of the FT Units effective December 31, 2022.
ABOUT VATIC VENTURES CORP.
Vatic has an option to acquire a 100% interest in a gold exploration property known as the Hansen prospect located in the Chibougamau area of northern Quebec, which consists of 20 contiguous mining claims representing a total area of 1,113.98 hectares is approximately 15 kilometers southeast of the Chapais-Opemiska Mine Complex (Springer, Perry and Cooke Copper-Gold mines).
ON BEHALF OF THE BOARD OF DIRECTORS OF VATIC VENTURES CORP.
“Loren Currie”
Loren Currie
CEO & Director
info@vaticventures.com
604-307-8745
Neither the 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.
