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AFR NuVenture Resources Inc. Announces a Non-Brokered Private Placement for up to $180,368
(TheNewswire) Not for distribution to the United States TORONTO, Ontario - TheN...
About this update from Afr Nuventure Resources Inc
[{"type":"text","content":"AFR NuVenture Resources Inc. Announces a Non-Brokered Private Placement for up to $180,368\n\n\n (TheNewswire)\n \n\n\n\n\n\n\n\n\n Not for distribution to the United States\n \n\n\n\n TORONTO, Ontario -\n \n\n TheNewswire\n-\n \n\n September 16, 2024 – AFR NuVenture Resources\nInc. (“AFR” or the “Company”) (TSXV: AFR), is pleased to\nannounce that it intends to offer for sale, on a non-brokered private\nplacement basis, securities of the Company (the\n“Offering”) consisting of shares of the Company at a price of\n$0.01 per share for aggregate gross proceeds of up to $180,038\n(“Maximum Proceeds”). The Offering is subject to the receipt of\nall necessary approvals, including the approval of the Toronto Venture\nExchange (the “TSXV”), as well as the satisfaction of other\ncustomary closing conditions. Assuming the Maximum Proceeds are\nraised, the Company will issue 18,038,681 Shares.\n \n\n\n\n In connection with the Offering, the Company may pay\nfinder’s fees equal to 6% of the gross proceeds in cash and issue 6%\nnon-transferable warrants (the “Finder Warrants”) to various\nregistered dealers or finder’s, representing up to 6% of the shares\nsold through such registered dealers or finders in the Offering. Each\nFinder Warrant will entitle the holder thereof to purchase one (1) AFR\nShare at a price of $0.05 per share for a period of thirty-six (36)\nmonths from the closing date of the offering.\n \n\n\n\n The proceeds derived from the sale of the shares will\nbe for general administrative expenses and working capital. Assuming\naggregate gross proceeds are raised, approximately 67% will be used\nfor Non-Arm’s length salaries and 33% for administration including\nrent and the Company’s annual audit.\n \n\n\n\n A portion of the Offering may be allocated to investors\nrelying on the “accredited investor” or other exemptions available\nto AFR under National Instrument 45-106 – Prospectus Exemptions.\n \n\n\n\n The private placement is open to all current\nshareholders and is being backstopped by management and directors and\nas such they may be subscribing for more than 25% of the offering. All\nshareholders wishing to participate should contact the Company as\nnoted below.\n \n\n\n...