Business
Planet Ventures Announces Private Placement and Share Consolidation
(TheNewswire) Vancouver, British Columbia - TheNewswire - Oct...
About this update from Planet Ventures Inc
[{"type":"text","content":"Planet Ventures Announces Private Placement and Share Consolidation\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Vancouver, British Columbia -\n \n \n TheNewswire\n \n \n - October 5, 2020 - Planet Ventures Inc.\n(TSXV:PXI\n \n \n )\n \n \n (\n \n \n FSE:P6U)\n \n \n (OTC:PNXPF)\n \n \n (\"\n \n \n Planet\n \n \n \" or the \"\n \n \n Company\n \n \n \") is\npleased to announce a non-brokered private placement to raise up to $1\nmillion (the \"\n \n \n Offering\n \n \n \"). The Offering is conditional\nupon the Company completing a 5:1 consolidation of its outstanding\nshares.\n \n \n \n \n The Offering\n \n \n \n \n The Offering will consist of up to 5,000,000 units (the\n\"\n \n \n Units\n \n \n \") comprised of one post-consolidation common share of\nthe Company and a common share purchase warrant entitling the holder\nto purchase a further post consolidation share of the Company (the\n\"\n \n \n Warrants\n \n \n \"). The Units are being sold at a post-consolidation\nprice of $0.20 per Unit. The Warrants will be exercisable for a\nperiod of 36 months from closing, at a price of $0.25 per\npost-consolidation share.\n \n \n Finders' fees may be\napplicable on the Offering.\n \n \n \n \n A portion of the Offering may be completed in\naccordance with the exemption set out in BC Instrument 45-536\n(\n \n \n Exemption from prospectus\nrequirement for certain distributions through an investment\ndealer\n \n \n ) (the \"\n \n \n Investment Dealer Exemption\n \n \n \").\n \n \n \n \n The Offering is also being offered to accredited\ninvestors and existing shareholders of the Company in accordance with\nthe provisions of the Canadian existing shareholder exemption (the\n\"\n \n \n Existing Shareholder\nExemption\n \n \n \"), as well as to other investors\npursuant to other available exemptions. The Existing Shareholder\nExemption is available to shareholders residing in all Canadian\nprovinces, other than Newfoundland and Labrador.\n \n \n \n \n Shareholders of record of the Company as at October 15,\n2020 (the \"\n \n \n Record\nDate\n \n \n \") are eligible to participate under\nthe Existing Shareholder Exemption. Any person who becomes a\nshareholder of the Company after the Record Date is not permitted to\nparticipate in the Offering using the Existing Shareholder Exemption\nbut other exemptions may still be ava...