(TheNewswire)
Vancouver, BC - TheNewswire - August 31, 2023 - Pathfinder Ventures Ltd. (TSXV:RV) (" Pathfinder " orthe " Company ") is pleased to announce that, pursuant to itsnon-brokered private placement announced July 25, 2023, it has issued10,000,000 units (the “Units”) at a price of $0.04 per Unit forgross proceeds of $400,000 and the offering is now closed. Each Unit is comprised of one common share andone-half of a warrant, a whole warrant (“Warrant”) exercisable topurchase a common share at a price of $0.08 until February 28, 2025,subject to accelerated expiry upon the certain events (see July 25,2023 news release for details).
An aggregate of $10,080 and 252,000 warrants having thesame terms as the Unit warrants was issued in payment of finder fees. The net proceeds will be used for generalworking capital, to support the development of the Agassiz Campgroundexpansion and to advance acquisition opportunities within itspipeline, consisting of RV resorts and RV & self-storageopportunities. All securities issued aresubject to a hold period until January 1, 2024.
Directors of the Company purchased an aggregate of3,837,500 Units, representing 38.4% of the totalnumber of Units sold pursuant to the offering, or 5.59% of the issuedand outstanding shares following closing (8.15% assuming the exerciseof those warrants comprising part of the Directors’ purchasedUnits). The participation by insiders constitutes a “related partytransaction” within the meaning of Multilateral Instrument 61-101– Protection of MinoritySecurity Holders in Special Transactions (“MI61-101”). The Company has relied upon theexemption from the formal valuation and minority shareholder approvalrequirements pursuant to sections 5.5(a), (b) and (c), and sections5.7(1)(a) and (b), respectively, of MI 61-101.
Pathfinder also announces that it has granted 1,860,000stock options to officers, directors, and consultants to the Company.These options have an exercise price of $0.08, no vesting period andan expiry date of August 31, 2028.
About Pathfinder Ventures
Pathfinder Ventures Inc. is developing a network ofpremier branded, upscale and family-friendly RV parks and campgroundsunder the “Pathfinder Camp Resorts” name. Pathfinder currently has three camp resorts located in B.C. and is focused ongrowing its network through both acquisitions and newconstruction. The Corporation is takingadvantage of the rapidly growing market of Canadians who want toexperience the great outdoors in an RV.
To learn more about Pathfinder Camp Resorts, click the link below:
On behalf of the board of directorsof the Company:
Joe Bleackley
Chief Executive Officer, Founder and Director
Pathfinder Ventures Inc.
CompanyContact:
Joe Bleackley
Chief Executive Officer, Founder andDirector
Phone: (604) 914 2575
Email: ir@PathfinderVentures.ca
Website: PathfinderVentures.ca || PathfinderCampResorts.com
Anthony Simone
Simone Capital Corp.
Phone: (416) 881-5154
Email: asimone@simonecapital.ca
Cautions
Neither the TSXVenture Exchange nor its Regulation Services Provider (as that term isdefined in the policies of the TSX Venture Exchange) acceptsresponsibility for the adequacy or accuracy of this release. No stockexchange, securities commission or other regulatory authority hasapproved or disapproved the information contained herein.
This news release may includecertain "forward-looking statements" which are not comprisedof historical facts. Forward-looking statements include statements andestimates that describe the Company’s future plans, objectives orgoals, including words to the effect that the Company or itsmanagement expects a stated condition or result to occur.Forward-looking statements may be identified by such terms as"will", "may", "should", “could”,“would”, “plans”, “estimates”, "anticipates","expects", “believes” and other similar expressions. All statements other thanstatements of historical fact are forward-looking statements. Since forward-lookingstatements are based on assumptions and address future events andconditions, by their very nature they involve inherent risks anduncertainties. Although these statements are based on informationcurrently available to the Company, the Company provides no assurancethat such statements will ultimately prove to be accurate and thatactual results and future events will meet management’sexpectations. Risks, uncertainties and other factors involved withforward-looking statements could cause actual events, results,performance, prospects and opportunities to differ materially fromthose expressed or implied by such forward-looking statements.Forward-looking statements in this news release may include, but isnot limited to, the Company’s objectives, goals or future plans,including funding and refinancing. Factors that could cause actualresults to differ materially from such forward-looking statementsinclude, but are not limited to, the ability of the Company tosuccessfully implement its development strategy and whether this willyield the expected benefits; competitive factors in RV’s industrysector; the success or failure of product development programs;currently existing applicable laws and regulations or futureapplicable laws and regulations that may affect the Company’ sbusiness; decisions of regulatory authorities and the timing thereof;Covid-19 related risks, availability of properties for acquisitionand/or development; the economic circumstances surrounding theCompany’s business, including general economic conditions in Canada,the US and worldwide; changes in exchange rates; changes in the equitymarket; inflation; uncertainties relating to the availability andcosts of financing needed in the future; and those other risks disclosed in the filingstatement and other disclosure document prepared and supplied onSEDAR . Although the Companybelieves that the assumptions and factors used in preparing theforward-looking statements in this news release are reasonable, unduereliance should not be placed on such information. Anyforward-looking statement is made as of the date of this news release,and no assurance can be given that any such conditions or events willoccur in the indicated time frames, as expected or at all. The Companydisclaims any intention or obligation to update or revise anyforward-looking statements, whether as a result of new information,future events or otherwise, other than as required by law.
This news release does notconstitute an offer to sell or a solicitation of an offer to buy anyof the securities in the United States. The securities have not beenand will not be registered under the United States Securities Act of1933, as amended (the "U.S. Securities Act") or any statesecurities laws and may not be offered or sold within the UnitedStates or to U.S. persons unless registered under the U.S. SecuritiesAct and applicable state securities laws or an exemption from suchregistration is available.
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