VLV: $0.155

VENERABLE ANNOUNCES AMENDED PRIVATE PLACEMENT TERMS

NEWS RELEASE

 

November 24, 2016                                                                                                   TSX-V: VLV

 

VENERABLE ANNOUNCES AMENDED PRIVATE PLACEMENT TERMS

Venerable Ventures Ltd. (the “Company”) (TSX-V: VLV) announces that it has revised the terms of the non-brokered private placement financing (the “Financing”) as previously announced by News Release dated November 3, 2016.

The revised terms of the Financing provide for the issuance of up to 2,500,000 units (each, a “Unit”) at a price of $0.11 per Unit for gross proceeds of up to $275,000. Each Unit will consist of one Share and one transferable share purchase warrant (each, a “Warrant”), with each Warrant entitling the holder to purchase one additional Share at a price of $0.15 per Share for a period of two years from closing of the Financing. Insiders may participate in the Financing.

Finders’ fees may be payable in connection with the Financing in accordance with the policies of the TSX Venture Exchange (the “Exchange”).

All securities issued in connection with the Financing will be subject to a statutory hold period expiring four months and one day after closing of the Financing. Completion of the Financing is subject to a number of conditions, including, without limitation, receipt of all regulatory approvals, including approval of the Exchange.

The proceeds of the Financing will be used for working capital purposes.

 

ON BEHALF OF THE BOARD OF DIRECTORS OF VENERABLE VENTURES LTD.

 

Per: “Ryan Sharp”                    

Ryan Sharp

President and CEO

 

For further information, please contact:

 

Ryan Sharp, President and CEO Phone: 778.999.1486

 

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 release.

 

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