Tocvan Ventures Closes $10 Million Bought Deal Financing

Tocvan Ventures Corp. has successfully concluded its bought deal private placement, raising $10,005,000. Stifel Canada served as the underwriter, purchasing 10,005,000 units at $1.00 per unit. Each unit consists of one common share and a warrant, with the warrant exercisable for an additional share at $1.40, expiring 36 months post-closing.

The proceeds will fund gold projects in Sonora, Mexico, and support general operations. Underwriter fees include a 7% cash commission and compensation warrants, each entitling holders to a share at the issue price for 24 months.

The financing, compliant with Canadian regulations, faced no hold period. Offers were made in Canada, excluding Quebec, and in the U.S. through private placements, adhering to securities regulations.