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TVI Pacific Announces Extension of Private Placement
CALGARY, AB, July 31, 2023 /CNW/ - TVI Pacific Inc. (TSXV: TVI) (OTC Pink: TVIPF) ("TVI" or the "Company") announces that, further to its press releases dated M
About this update from Tvi Pacific Inc.
[{"type":"text","content":" CALGARY, AB, July 31, 2023 /CNW/ - TVI Pacific Inc. (TSXV: TVI) (OTC Pink: TVIPF) (\"TVI\" or the \"Company\") announces that, further to its press releases dated May 30, 2023 and June 26, 2023, the Company has received an extension from the TSX Venture Exchange (the \"TSXV\") with respect to the duration of its previously announced non-brokered private placement to Prime Resources Holdings, Inc., directly or indirectly through one or more of its subsidiaries or affiliates (collectively, \"PRHI\") of 53,600,000 common shares in the capital of the Company, at a price of $0.025 per share, for gross proceeds of $1,340,000 (or approximately US$1,000,000). As such, the outside date upon which final acceptance of the Private Placement may be granted by the TSXV has been extended to August 14, 2023. The extension of the outside date applies also to the condition by which Manuel Paolo A. Villar and Michael G. Regino were elected to the Board at the Annual General Meeting of the Company held June 28, 2023, whereby it was announced earlier that they shall resign as directors of the Company if the Private Placement does not close by July 31, 2023 or if there is a failure to obtain any regulatory approval or clearance for either Mr. Villar or Mr. Regino to act as a director of the Company. About TVI Pacific Inc. TVI Pacific Inc. is a Canadian resource company focused on mining projects in the Philippines, one of the most prolifically mineralized countries in the world. TVI currently holds a 30.66% equity interest in TVIRD, a Philippines corporation. Through TVIRD, TVI has ownership in a currently producing gold mine and is focused on bringing on-stream the Siana gold mine at which equipment has been rehabilitated and commissioning of the plant has commenced in line with TVIRD's plan to restart operations. About Prime Resources Holdings, Inc. Prime Resources Holdings, Inc. (\"PRHI\") is a Philippine company organized primarily to hold Mr. Manuel Paolo A. Villar's interests in the mining industry. PRHI is the largest and controlling shareholder of TVIRD, holding 68.42% thereof. PRHI is an affiliate of Prime Asset Ventures, Inc. (\"PAVI\"), a Philippine company with focus on building and developing critical community infrastructure. PAVI currently ...