YSV Ventures Inc.

November 15, 2005 13:25 ET

YSV Ventures Inc. Announces $1.5 Million Private Placement

TORONTO, ONTARIO--(CCNMatthews - Nov. 15, 2005) - YSV Ventures Inc. ("YSV")(NEX:XSVH) is pleased to announce that it intends to complete a private placement for gross proceeds of up to $1.5 million. The company intends to issue units consisting of four flow-through common shares and one non-flow-through common share at a price of $1.25 per unit or $0.25 per flow-through or non-flow-through common share.

The private placement is expected to close in escrow on or about December 9, 2005. Upon closing, all funds raised and shares of YSV issuable pursuant to the private placement shall be held in escrow until such time as the company is approved for listing on tier 1 or tier 2 of the TSXV Venture Exchange. The closing of the private placement is subject to, amongst other things, regulatory approval and completion of definitive documentation.

YSV intends to use the proceeds of the private placement for exploration on existing and other exploration projects in which it may acquire an interest, working capital purposes and for administrative and operating expenses.

Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe YSV's future plans, objectives or goals, including words to the effect that YSV or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • YSV Ventures Inc.
    Michael Newbury
    (416) 703-5435
    (416) 703-1897 (FAX)