Business
Planet Ventures Closes Private Placement and Grants Stock Options
(TheNewswire) V A N C O U V ER, Briti...
About this update from Planet Ventures Inc
[{"type":"text","content":"Planet Ventures Closes Private Placement and Grants Stock Options\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n V\n \n \n A\n \n \n N\n \n \n C\n \n \n O\n \n \n U\n \n \n V\n \n \n ER,\n \n \n British Columbia -\n \n \n TheNewswire\n \n \n - November 16,\n \n \n 2020\n \n \n -\n \n \n Planet Ventures Inc.\n \n \n (\n \n \n T\n \n \n S\n \n \n X\n \n \n V\n \n \n :\n \n \n PXI\n \n \n )\n \n \n (\n \n \n FSE:P6U\n \n \n )\n \n \n (OTC:\n \n \n PNXPF\n \n \n )\n \n \n (\n \n \n \"\n \n \n Planet\"\n \n \n o\n \n r t\n \n h\n \n e\n \n \"\n \n \n C\n \n \n o\n \n \n m\n \n \n pan\n \n \n y\n \n \n \"\n \n )\n \n is pleased to announce that further to its news release\ndated October 5, 2020, the Company has closed its non-brokered private\nplacement (the \"\n \n \n Private\nPlacement\n \n \n \") for gross proceeds of\n$1,000,000. Pursuant to the Private Placement, the Company issued\n5,000,000 units of the Company (the \"\n \n \n Units\n \n \n \") at a\nprice of $0.20 per Unit. Each Unit consists of one common share (a\n \n \n \"Unit Share\n \n \n \") and one common share purchase warrant (a\n\"\n \n \n Warrant\n \n \n \"). Each Warrant entitles the holder to purchase one\ncommon share in the capital of the Company (a \"\n \n \n Warrant Share\n \n \n \"),\nexercisable at a price of $0.25 per Warrant Share for a period of 36\nmonths following the closing of the Private Placement.\n \n \n \n \n In connection with the Private Placement, the Company\npaid finder's fee in the aggregate sum of $46,270 and issued 231,350\ncommon share purchase warrants (the \"\n \n \n Finders' Warrants\n \n \n \") to certain eligible finders. Each Finders' Warrant\nentitles the holder to purchase one common share in the capital of the\nCompany (a \"\n \n \n Finder's\nShare\n \n \n \"), exercisable at a price of $0.25\nper Finder's Share for a period of 36 months following the closing of\nthe Private Placement.\n \n \n \n \n All securities issued in connection with the Offering\nwill be subject to a statutory four-month hold period expiring on\nMarch 17, 2021 in accordance with applicable securities legislation.\n \n \n \n \n The Company intends to use the net proceeds raised from\nthe Private Placement for general corporate purposes, including\ngeneral and administrative expenses, and investment purposes.\n \n \n \n \n Two insiders of ...