Vancouver, B.C., December 12, 2022 – Vatic Ventures Corp. (the “Company” or “Vatic“) (TSXV: VCV; FRA: V8V) announces that it has received approval from the TSX venture Exchange (the “Exchange”) to close its $0.23 flow-through unit private placement financing (the “Financing”) for aggregate gross proceeds of $598,000. The Company will now 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 totaling $47,846 will be paid and 208,000 broker warrants, exercisable at $0.23 for 24 months will be issued.
All securities issued pursuant to the Financing will be subject to a 4 month hold period, such hold expiring April 13, 2023.
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.
