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AFR NuVenture Resources Inc. Updates Details of its Non-Brokered Private Placement for up to $180,368
(TheNewswire) TORONTO, Ontario – TheNewswire - November 18 , 2024 &#...
About this update from Afr Nuventure Resources Inc
[{"type":"text","content":"AFR NuVenture Resources Inc. Updates Details of its Non-Brokered Private Placement for up to $180,368\n\n\n (TheNewswire)\n \n\n\n\n\n\n\n\n\n TORONTO, Ontario –\n \n\n TheNewswire\n-\n \n\n November\n \n\n 18\n \n\n , 2024 – AFR NuVenture Resources Inc. (“AFR” or the\n“Company”) (TSXV: AFR), is pleased to provide further details of\nits offer for sale, on a non-brokered private placement basis,\nsecurities of the Company (the “Offering”) consisting of shares\nof the Company at a price of $0.01 per share for aggregate gross\nproceeds of up to $180,038 (“Maximum Proceeds”)(see press release\non November 6, 2024). On November 13, 2024, the Company received\nconditional approval from the TSX Venture Exchange to close the\nOffering.  The Offering is subject to the receipt of all necessary\napprovals, including the final acceptance 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, 100% of the proceeds will be used\nfor administrative and general expenses  including rent, the\nCompany’s annual audit, regulatory and filing fees, and management\nand directors’ fees in an amount of up to approximately $100,000 to\nmaintain the Company in good standing through the next fiscal quarter.\n \n\n\n\n A portion of the Offering may be allocated to investors\nrelying on the “existing security holder”, “accredited\ninvestor” or other exemptions availa...