- Velocity Minerals (VLC) has announced a non-brokered private placement for total gross proceeds of up to $1,500,000
- The company will issue up to 10,000,000 units priced at $0.15 per unit
- Net proceeds will be used to fund ongoing work at the company’s gold and copper exploration projects
- Velocity is a precious metals and copper explorer focused on Eastern Europe with interests in several properties in Bulgaria
- Velocity Minerals Ltd. (VLC) opened trading at C$0.18
Velocity Minerals (VLC) has announced a non-brokered private placement for total gross proceeds of up to $1,500,000.
Under the offering, the company will issue up to 10,000,000 units priced at $0.15 per unit Each unit will consist of one common share and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share at a price of $0.25 for a period of 18 months from the closing of the offering.
Net proceeds will be used to fund ongoing work at the company’s gold and copper exploration projects and for general working capital.
All securities issued are subject to a statutory four-month hold period.
The company may pay finder’s fees consisting of a cash commission and finder’s warrants.
About Velocity Minerals Ltd.
Velocity is a precious metals and copper explorer focused on Eastern Europe. In Bulgaria, Velocity has a 70 per cent interest in the Tintyava property. Velocity also has a 70 per cent interest in the Momchil, Nadezhda and Dangovo properties and a 100 per cent interest in the Iglika copper-gold exploration property. The company is working towards acquiring a 75 per cent interest in the Zlatusha copper-gold exploration property.
Velocity Minerals Ltd. (VLC) opened trading at C$0.18.