Cavan Announces Further Extension of Private Placement Closing
Suite 1220 – 789 W. Pender St., Vancouver, BC V6C 1H2 Phone: 604-683-3995/ Toll Free: 888-945-4770/Fax: 604-683-3988
CAVAN ANNOUNCES FURTHER EXTENSION OF PRIVATE PLACEMENT CLOSING
June 24, 2015, VANCOUVER, B.C. – CAVAN VENTURES INC. (TSX-V:CVN) (“Cavan” or the "Company”) announces that further to the Company’s news releases of April 17th, 2015 and May 26, 2015 it has further extended the closing of its non-brokered private placement of up to 10,000,000 units (the "Units") at a price of $0.03 per Unit for aggregate gross proceeds of up to $300,000 (the "Offering") to July 31st, 2015. Each Unit will be comprised of one common share in the capital of the Company ("Share") and one share purchase warrant of the Company ("Warrant"). Each Warrant will entitle the holder to purchase one common share in the capital of the Company (a "Warrant Share") for a period of 12 months from the closing date at an exercise price of $0.05 per Warrant Share.
The Company may, in its sole discretion, pay a finders' fee to agents of the Company consisting of: (i) a cash fee in an amount of 10% of the proceeds raised by such finder as part of this Offering, and (ii) a number of finder's warrants entitling the holder thereof to purchase that number of Shares of the Company ("Finder's Warrant") that is equal up to 10% of the number of Units placed through the finder as part of this Offering. Each Finder's Warrant will entitle the holder to purchase one common share in the capital of the Company (a "Finder's Warrant Share") for a period of 12 months from the closing date at an exercise price of $0.05 per Finder's Warrant Share.
The proceeds raised will be used for general working capital, to repay outstanding debt and for advancement of its Tetepiska graphite property in northeastern Quebec, located 24 kilometers southwest of the Lac Guéret graphite project that is presently under advanced exploration by Mason Graphite (TSX- V: LLG).
The private placement is subject to the approval of the TSX Venture Exchange.
Cavan Venture’s mission is to identify, acquire, and advance high potential mining prospects located in North America for the benefit of its stakeholders. For more information visit the website at www.cavanventuresinc.com.
ON BEHALF OF THE BOARD
Peter P. Swistak, President
FOR FURTHER INFORMATION PLEASE CONTACT:
Telephone: 1-604-683-3995 Toll Free: 1-888-945-4770
Forward-Looking Statement:
Some statements in this news release contain forward-looking information that involves inherent risk and uncertainty affecting the business of Cavan Ventures Inc. Actual results may differ materially from those currently anticipated in such statements. 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.
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