Pathfinder Ventures Announces Non-Brokered Private Placement of up to $1 Million and Concurrent Share Consolidation
VANCOUVER, BC / ACCESSWIRE / July 8, 2024 / Pathfinder Ventures Inc. (TSXV:RV) (“Pathfinder” or the “Company”) is pleased to announce a non-brokered private placement (the “Private Placement”), on a post-Consolidation basis (see below), of up to 10 million units (the “Units“) at a price of $0.10 per Unit for gross proceeds of $1,000,000. Each Unit will be comprised of one post-Consolidation common share (a “Share“) of the Issuer and one-half (1/2) of a non-transferable purchase warrant, with a whole warrant entitling the holder to purchase a further Share at a price of $0.20 for a period of 36 months subject to acceleration on the occurrence of certain events.
Pathfinder further announces that it will be undertaking a consolidation (the “Consolidation“) of its common shares on the basis of four (4) pre-Consolidation common shares for one (1) post-Consolidation common share. The Company expects that the Consolidation will provide the Company with increased flexibility in structuring and completing financings and potential business transactions. The Company currently has 93,681,976 common shares outstanding, and accordingly expects 23,420,494 common shares to be outstanding on completion of the Consolidation (subject to rounding adjustments and any further share issuances prior to the Consolidation) and prior to the completion of the Private Placement. The Company does not expect to change its name or trading symbol in conjunction with the Consolidation.
Finder’s fees may be payable in accordance with the policies of the TSX Venture Exchange (“the Exchange”). The Company intends to use the net proceeds of the Private Placement for general working capital, to support current RV Resort developments and expansions, and to advance acquisition opportunities within its pipeline, consisting of RV resorts and Lifestyle Communities.
Completion of the Consolidation and the Private Placement remains subject to the approval of the TSX Venture Exchange.
About Pathfinder Ventures Inc. (TSXV:RV):
Pathfinder Ventures Inc. is a leading provider of premium RV camping experiences, committed to delivering exceptional hospitality and modern amenities to outdoor enthusiasts. With a portfolio of strategically located resorts, Pathfinder offers unparalleled opportunities for memorable RV vacations.
To learn more about Pathfinder Camp Resorts, click the link below:
On behalf of the board of directors of the Corporation:
Joe Bleackley
Chief Executive Officer, Founder and Director
Pathfinder Ventures Inc.
Company Contact:
Joe Bleackley
Chief Executive Officer, and Director
Phone: (604) 914 2575
Email: ir@PathfinderVentures.ca
Website: PathfinderVentures.ca || PathfinderCampResorts.com
