Source: CAVU Mining Corp.
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  • CAVU Mining Corp. (CAVU) closes its oversubscribed private placement for gross proceeds of $3.5 million
  • The company issued 8.75 million units issued at a price of $0.40 per unit
  • The net proceeds from the sale of units will be used to fund exploration projects, marketing and general working capital purposes
  • CAVU also announces it has issued 1.32 million stock options with a term of three years and strike price of $0.47
  • CAVU Mining Corp. (CAVU) is unchanged and is trading at $0.47 per share as of 10:56 a.m. EST

CAVU Mining Corp. (CAVU) has closed its previously announced oversubscribed private placement for gross proceeds of $3.5 million.

The company issued 8.75 million units issued priced at $0.40 per unit.

Each unit consists of one common share of CAVU and one whole common share purchase warrant.

Each warrant will entitle the holder thereof to purchase one common share of the Company at a price of C$0.60.

The offer is for two years after the closing date.

CAVU paid cash finder fees of $81,025 and issued 202,563 finders warrants.

The net proceeds from the sale of units will be used to fund exploration projects, marketing and general working capital purposes.

CAVU has issued 1.32 million stock options with a term of three years and strike price of $0.47.

CAVU Mining Corp. (CAVU) is unchanged and is trading at $0.47 per share as of 10:56 a.m. EST.

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