Cavan Provides Financing Update
Vancouver, British Columbia (FSCwire) – CAVAN VENTURES INC. (V:CVN.H) (‘‘Cavan’’ or the ‘‘Company’’) announces it intends to rely on the “investment dealer” prospectus exemption, among other prospectus exemptions, with respect to the private placement. As such, the Issuer confirms that there is no material fact or material change about Cavan that has not been generally disclosed.
The proceeds of the offering (assuming it is fully subscribed) will be used as follows:
|Estimated Cost ($)|
|To fund remaining costs to complete the St-Onge Acquisition||50,000|
|To repay indebtedness owing to an arm’s length party||200,000|
|To fund exploration programs on the St-Onge Property||300,000|
|General and administrative expenses over the next 12 months||150,000|
|Working capital to fund ongoing operations||100,000|
Cavan Venture’s mission is to identify, acquire, and advance high potential mining prospects located in North America for the benefit of its stakeholders. For more information visit the website at www.cavanventuresinc.com.
ON BEHALF OF THE BOARD
Peter P. Swistak, President
FOR FURTHER INFORMATION PLEASE CONTACT:
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Source: Cavan Ventures Inc. (TSX Venture:CVN.H)
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