Woden Venture Capital Corporation

Woden Venture Capital Corporation

August 06, 2014 17:39 ET

Woden Renounces to its Proposed Transaction With Aurtois and Announces a Private Placement of $100,000

LAVAL, QUEBEC--(Marketwired - Aug. 6, 2014) - Woden Venture Capital Corporation (the "Corporation") (TSX VENTURE:WOD.H), a capital pool company pursuant to Policy 2.4 of the TSX Venture Exchange, announced that, following the due diligence conducted and the current market conditions, it no longer goes ahead with its proposed Qualifying Transaction with Exploration Aurtois Inc. disclosed on October 7, 2013.

Moreover, the Corporation wishes to complete within the next 10 days a private placement for the issuance of Class "A" shares of the capital stock of the Corporation (the "Common Shares") at a subscription price of $0.10 per Common Share, for total subscriptions of CDN$100,000, the whole subject to the approval of the NEX and regulatory authorities. Each issued Common Share will be subject to a mandatory 4 month and one day holding period. Woden will use the proceeds of the private placement for general working capital purposes.

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.

Contact Information

  • Mr. Andre Bergeron
    President and Chief Executive of the Corporation
    514 946-3837