November 16, 2012 16:21 ET
VAL D'OR, QUEBEC--(Marketwire - Nov. 16, 2012) - ACTIVE GROWTH CAPITAL INC. (TSX VENTURE:ACK) (the "Corporation") (www.activegrowthcapital.com) is seeking to raise up to $250,000 through the issue of a non-brokered private placement of units (the "Units") at a price of $0.025 per Unit. Each Unit will consist of one common share and one-half of one share purchase warrant ("Warrant"). Each whole Warrant is exercisable at a price of $0.10 at any time within twelve (12) months from date of issue. A finder's fee may be issued to arm's length parties who introduce subscribers to the Corporation, and is payable in cash, shares, and / or warrants subject to compliance with the TSX Venture Exchange ("TSXV").
The net proceeds of the financing will be used to maintain the Corporation's assets, for debt repayment and working capital purposes that meet the criteria established by the TSXV.
Completion of the offering is subject to TSXV approval. Approval of the private placement is being sought pursuant to the TSXV's Notice to Issuers dated August 17, 2012, regarding Temporary Relief from Certain Pricing Requirements.
All securities issued under the offering will be subject to a four-month statutory hold period.
About Active Growth Capital
Active Growth is a TSX listed junior mineral exploration issuer whose long-term objective is to build a diversified company focused on the acquisition, exploration and development of mineral properties. Additional information about the Corporation is available on SEDAR at www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Martin TremblayPresident and CEO(514) 476-7773
See all RSS Newsfeeds