Vancouver, B.C., November 9, 2022 – Vatic Ventures Corp. (the “Company” or “Vatic“) (TSXV: VCV; FRA: V8V) is pleased to announce that it has received approval from the TSX Venture Exchange (the “Exchange”) to close its $0.20 unit private placement financing (the “Financing”) for aggregate gross proceeds of $200,000. The Company will now issue 1,000,000 $0.20 units, each Unit being comprised of 1 common share of the Company and one half of a common share purchase warrant (the “Warrants”), each full Warrant being exercisable for an additional common share of the Company at $0.30 for 24 months.
3 insiders of the Company have participated in the Financing for a total of $82,500 or 412,500 Units, that portion of the Financing being a “related party transaction” as such term is defined under MI 61-101 – Protection of Minority Security Holders in Special Transactions. The Company will rely on exemptions from the formal valuation requirement of MI-61-101 under sections 5.5(a) and (b) of MI 61-101 in respect of the transaction as the fair market value of the transaction, insofar as it involves the interested party, is not more than 25% of the Company’s market capitalization.
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.
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.
