Driven Arranges Private Placement
21 Juillet 2012 - 4:38PM
PR Newswire (Canada)
TSX Venture Exchange: DVV Frankfurt Stock Exchange: DV1 VANCOUVER,
July 24, 2012 /CNW/ - Driven Capital Corp. ("Driven" or the
"Company") has arranged a non-brokered private placement to raise
up to $720,000 in gross proceeds through the sale of up to
12,000,000 units at $0.06 per unit. Each unit will consist of one
common share and one non-transferrable share purchase warrant
entitling its holder to purchase one additional common share for
five years following the closing date of the private placement, at
a price of $0.12 per share for the first year, $0.18 for the second
year, $0.24 for the third year, and $0.30 for the fourth year and
$0.36 for the fifth year. Finder's fees may be payable in
connection with the private placement as permitted under the
policies of the TSX Venture Exchange (the "Exchange"). Driven
intends to utilize the net proceeds of the private placement to
continue mineral exploration on its three projects, and for general
corporate purposes. The offering is anticipated to close on or
about July 31, 2012 and is subject to the receipt of applicable
regulatory approvals. The securities issued by the Company pursuant
to the offering will be subject to a four-month hold period as
prescribed by the Exchange and applicable securities laws. Driven
Capital Corp. is deploying its accomplished technical and
management team toward the exploration of its portfolio of highly
prospective precious metals projects in the Yukon and British
Columbia. On Behalf of the Board of Directors of Driven Capital
Corp. "Toma Sojonky" Toma Sojonky, President & CEO 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. 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. Driven Capital Corp.
CONTACT: please contact Toma Sojonky, President & CEO, at (604)
569-0799,orvisit www.DrivenCapital.ca.
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