Driven Capital Amends Non-Flow-Through Financing and Cancels Flow-Through Financing
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 12/09/11 -- Driven Capital Corp. (TSX VENTURE: DVV) ("Driven" or the "Company") writes to report on the status of its previously announced, non-brokered private placements (please refer to the Company's news release dated November 14, 2011).
In light of current market conditions, the Board of Directors has elected to amend the terms of the Company's private placement of Units. Pursuant to the amendments, the offering will now consist of the sale of up to 9,000,000 "Units" of the Company at a price of $0.10 per Unit, for gross proceeds of up to $900,000. Each Unit shall consist of one common share in the Company, and one non-transferable share purchase warrant of the Company (a "Warrant") exercisable for a period of 24 months from the closing date. Each Warrant shall be exercisable into one common share of the Company at an exercise price of $0.15 per share in the first year and $0.20 per share in the second year.
Driven intends to use the net proceeds of the private placement to conduct exploration on the Company's projects and for general working capital purposes. Finder's fees may be payable in connection with the offering as permitted under the policies of the TSX Venture Exchange (the "Exchange"). The offering is planned to close on or before Friday December 23, 2011 and is subject to receipt of applicable regulatory approvals. The securities issued by Driven in connection with the offering will be subject to a four-month hold period as prescribed by the Exchange and applicable securities laws.
Also in light of current market conditions, the Board of Directors has elected to cancel the Company's offering of Flow-Through Units.
Driven is a publicly traded exploration company focused on the discovery of high-value precious metals deposits in North America. Please visit our web site at for more information.
On Behalf of the Board of Directors of Driven Capital Corp.,
Toma Sojonky, President & CEO
Cautionary Statement Regarding Forward-Looking Information: All statements, trend analysis and other information contained in this press release relative to markets about anticipated future events or results constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. The Company does not undertake any obligation to update forward-looking statements even if circumstances or management's estimates or opinions should change. Investors should not place undue reliance on forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Driven Capital Corp.
Toma Sojonky
President & CEO
(604) 569-0799
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Datum: 09.12.2011 - 21:05 Uhr
Sprache: Deutsch
News-ID 95646
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contact information:
Town:
VANCOUVER, BRITISH COLUMBIA
Kategorie:
Mining & Metals
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