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AFR NuVenture Resources Inc. Closes its Non-Brokered Private Placement
(TheNewswire) TORONTO, Ontario – TheNewswire - April 1, 2025 - AFR NuVenture...
About this update from Afr Nuventure Resources Inc
[{"type":"text","content":"AFR NuVenture Resources Inc. Closes its Non-Brokered Private Placement\n\n\n (TheNewswire)\n \n\n\n\n\n\n\n\n\n TORONTO, Ontario –\n \n\n TheNewswire\n-\n \n\n April 1, 2025 - AFR NuVenture Resources Inc.\n(“AFR” or the “Company”) (TSXV: AFR), is pleased to announce\nthe closing of its non-brokered private placement (the\n“Offering”) announced on February 13, 2025, pursuant to which,\n1,171,430 common shares of the Company were issued at a price of\n$0.035 per share for gross proceeds of $41,000. No finder’s fees\nwere paid related to the Offering. All of the proceeds from the sale\nof the shares were used towards the initial payment of $40,000\nrequired to complete the initial option payment payable under the\nCompany’s agreement to acquire the Massey Nickle/Copper property in\nthe historic Timmins Ontario mining camp.\n \n\n\n\n Insiders of the Company acquired all of the shares of\nthe Offering and constitute a “related party transaction” under\nMultilateral Instrument 61-101 – Protection of Minority Security\nHolders in Special Transactions (“MI 61-101”). The Company is\nrelying on the exemption from the formal valuation requirement in\nsection 5.5(b) of MI 61-101 (as a result of its common shares being\nlisted on the TSXV) and the exemption from the minority approval\nrequirement in section 5.7(1)(a) of MI 61-101 (as neither the fair\nmarket value of the common shares distributed to, nor the\nconsideration paid by, such directors and officers or insiders will\nexceed 25% of the Company’s market capitalization). No new Control\nPerson was created as a result of this Offering.\n \n\n\n\n All of the shares issuable in connection with the\nOffering are subject to a hold period expiring four months and one day\nafter the date of issuance of the securities.\n \n\n\n\n The Company also wishes to announce that its Annual\nGeneral and Special has been set for May 21, 2025, with a record date\nof April 17, 2025, for those entitled to vote at the meeting. Proxy\nmaterials will be mailed in due course.\n \n\n\n\n Now that the Company has signed a definitive agreement\nand completed the initial annual payments required pursuant to the\nMassey Nickle/Copper agreement, it is in the process of planning its\nanticipated summer drill...