Norvista Capital Announces $3,300,000 Equity Financing and Creation of Parallel Funding Vehicle

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[{"type":"text","content":"Norvista Capital Announces $3,300,000 Equity Financing and Creation of Parallel Funding VehicleTORONTO, ON / ACCESSWIRE / March 22, 2016 / Norvista Capital Corporation (TSXV: NVV) (\"Norvista\" or the \"Company\") is pleased to announce a non-brokered private placement (the \"Offering\") of 27,500,000 common shares in the capital stock of Norvista (the \"Offered Shares\") at a price of $0.12 per Offered Share for aggregate gross proceeds to Norvista of $3,300,000. The net proceeds of the Offering will be used by the Company to invest in both public and private companies engaged in the exploration and development of base and precious metal projects in the junior resource sector and for general working capital purposes.\nNorvista is also pleased to announce the concurrent funding of a parallel institutional financing vehicle called Norvista Capital I Limited Partnership (the \"LP\") that will initially raise $3,150,000 to be invested with Norvista, on a pro rata basis, in future qualifying investments. A wholly-owned subsidiary of Norvista will serve as the general partner of the LP. The LP has been created by the Company to avoid concentrated equity ownership in Norvista while accommodating institutional investors who want to make private equity investments in the junior resource space and have such investments sourced, structured and managed by Norvista.\n The Offered Shares will be subject to a statutory four month and one day hold period from the date of closing. The completion of the Offering remains subject to the approval of the TSXV and customary closing conditions for a transaction of this nature. The Offering is expected to close on or about March 29, 2016.\nStan Spavold, Chairman, Don Christie, CEO & Director and Bruce Durham, Managing Director and Director of Norvista, will participate in the Offering. The participation of these officers and directors pursuant to the Offering constitutes a \"related party transaction\" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (\"MI 61-101\") and the policies of the TSXV. The Company is relying upon the exemptions from the formal valuation and minority shareholder approval requirements pursuant to sections 5.5(b) and 5.7(1)(a), respectively, of MI 61-101 on the basis that the Company is not listed on a spe...

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