Business
Network Exploration announces $1,000,000 private placement
Network Exploration announces $1,000,000 private placement.
About this update from Ynvisible Interactive Inc. Class A
[{"type":"text","content":"\n\n\n\nVANCOUVER, May 1 /CNW/ - Network Exploration Ltd. (the "Company") (TSX.V:\nNET.H) is pleased to announce that the Company is arranging a private\nplacement to raise gross proceeds of up to $1,000,000.\n\n\nUnder the terms of the private placement, the company will offer for sale\na maximum of 5 million units at 20 cents per unit. Each unit will consist of\none common share of the company and one share purchase warrant, where each\nwarrant will allow the subscriber to purchase one additional common share of\nthe company at 25 cents for a period of one year from the closing date. The\nunits issued upon the closing of the private placement will be subject to a\nfour-month hold period. Finder's fees may be payable.\n\n\nThe proceeds from the offering will be used for the Company's upcoming\ndrill program at its Caldera property, Chile and to meet the requirements for\ngraduation to Tier 2 on the TSX Venture Exchange.\n\n\nThe closing of this offering is subject to the successful graduation of\nNetwork from NEX to Tier 2 and all necessary regulatory approvals.\n\n\nNetwork Exploration Ltd. is a mineral exploration Company committed to\nbuilding shareholder value through the acquisition of base and precious metal\nproperties in North and South America.\n\n\nON BEHALF OF THE BOARD OF DIRECTORS\n\n\n"Alexander Helmel"\n\n\nPresident\n\n\nTHE TSX VENTURE EXCHANGE HAS NOT YET REVIEWED AND DOES NOT TAKE\nRESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS\nRELEASE. This news release contains certain "Forward-Looking Statements"\nwithin the meaning of Section 21E of the United States Securities Exchange Act\nof 1934, as amended. All statements, other than statements of historical fact,\nincluded herein are forward-looking statements that involve various risks and\nuncertainties. There can be no assurance that such statements will prove to be\naccurate, and actual results and future events could differ materially from\nthose anticipated in such statements. Important factors that could cause\nactual results to differ materially from the Company's expectations are\ndisclosed in the Company's documents filed from time to time with the British\nColumbia Securities Commission and the United States Securities & Exchange\nCommission.\n\n\n%SEDAR: 00005604E\n\n\n","length":2398,"tagName":...