VATIC VENTURES CORP. ("VCV.H")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement, Private Placement-Non-Brokered
BULLETIN DATE: October 21, 2016
NEX Company
Property-Asset or Share Purchase Agreement
TSX Venture Exchange (the "Exchange") has accepted for filing an assignment and purchase agreement dated June 2, 2016 (the "Agreement") between Vatic Ventures Corp. (the "Company) and Red Branch Investments Ltd. ("Red Branch"). Pursuant to the Agreement, the Company has acquired the right to acquire 80% of the shares of Saksrithai Development Co. Ltd. ("Saksrithai").
Saksrithai holds two prospecting licenses in Thailand.
Consideration under the Agreement is 5,200,000 common shares of the Company to Red Branch, USD$220,000 to Saksrithai shareholders and incurring USD$1,400,000 in work exploration expenditures.
There is a 1% NSR payable to Red Branch on the two prospecting licenses. The NSR can be purchased by the Company for USD$1,000,000 at any time.
Insider / Pro Group Participation: N/A
For additional information please refer to the Company's news releases dated June 7, 2016, July 12, 2016 and October 21, 2016.
Private Placement-Non-Brokered
The Exchange has also accepted for filing documentation with respect to a Non-Brokered Private Placement announced June 7, 2016:
Number of Shares: 7,091,157 shares
Purchase Price: $0.075 per share
Warrants: 7,091,157 share purchase warrants to purchase shares
Warrant Exercise Price: $0.15 for two years
Number of Placees: 23 Placees
Insider / Pro Group Participation:
Insider=Y /
Name ProGroup=P # of Units
Aggregate Pro Group Involvement P 67,000
[1 Placee]
Tom Wilson Y 133,000
Barry Coughlan Y 133,333
Firebrand Ventures Corp. (Nasim Tyab) Y 146,666
Finder's Fee: Leede Jones Gable receives 60,000 finder's warrants
Canaccord Genuity Corp. receives $502 and 6,700 finder's warrants
Each finder's warrant is exercisable at $0.15 for two (2) years
Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company issued a news release announcing the closing of the private placement and setting out the expiry dates of the hold period(s).
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