Business
Pathfinder Closes $400,000 Private Placement
(TheNewswire) Vancouver, BC - TheNewswire - August 31, 2023 - Pathfinder Ventur...
About this update from Pathfinder Ventures Inc
[{"type":"text","content":"Pathfinder Closes $400,000 Private Placement\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Vancouver, BC -\n \n \n TheNewswire -\n \n \n August 31, 2023 -\n \n \n Pathfinder Ventures Ltd.\n \n \n (TSXV:RV)\n \n \n (\"\n \n \n Pathfinder\n \n \n \" or\nthe \"\n \n \n Company\n \n \n \") is pleased to announce that, pursuant to its\nnon-brokered private placement announced July 25, 2023, it has issued\n10,000,000 units (the “Units”) at a price of $0.04 per Unit for\ngross proceeds of $400,000 and the offering is now closed.\n \n \n Each Unit is comprised of one common share and\none-half of a warrant, a whole warrant (“Warrant”) exercisable to\npurchase a common share at a price of $0.08 until February 28, 2025,\nsubject to accelerated expiry upon the certain events (see July 25,\n2023 news release for details).\n \n \n \n \n An aggregate of $10,080 and 252,000 warrants having the\nsame terms as the Unit warrants was issued in payment of finder fees.\n The net proceeds will be used for\n \n \n general\nworking capital, to support the development of the Agassiz Campground\nexpansion and to advance acquisition opportunities within its\npipeline, consisting of RV resorts and RV & self-storage\nopportunities.\n \n \n All securities issued are\nsubject to a hold period until January 1, 2024.\n \n \n \n \n Directors of the Company purchased an aggregate of\n3,837,500\n \n \n Units, representing 38.4% of the total\nnumber of Units sold pursuant to the offering, or 5.59% of the issued\nand outstanding shares following closing (8.15% assuming the exercise\nof those warrants comprising part of the Directors’ purchased\nUnits).  The participation by insiders constitutes a “related party\ntransaction” within the meaning of Multilateral Instrument 61-101\n–\n \n \n Protection of Minority\nSecurity Holders in Special Transactions\n \n \n (“MI\n61-101”).\n \n \n The Company has relied upon the\nexemption from the formal valuation and minority shareholder approval\nrequirements pursuant to sections 5.5(a), (b) and (c), and sections\n5.7(1)(a) and (b), respectively, of MI 61-101.\n \n \n \n \n Pathfinder also announces that it has granted 1,860,000\nstock options to officers, dire...