PIVIT EXPLORATION INC. COMPLETES INITIAL PUBLIC OFFERING
Pivit Exploration Inc. has completed its initial public offering (IPO) of 4,025,000 common shares in its capital, 525,000 of which were sold pursuant to an overallotment option, at a price of 10 cents per share for gross proceeds of $402,500. The net proceeds from the IPO will be used for working capital and to carry out exploration at the company's Lennac Lake property (located approximately 18 kilometres southwest of Granisle, B.C., in the Omineca Mining division).
Haywood Securities Inc. acted as agent for the IPO. The agent received a cash commission equal to 10 per cent of the proceeds of the IPO and a corporate finance fee of $40,000 (of which $30,000 will be payable in cash and $10,000 will be payable in shares). Additionally, the company has granted the agent compensation options entitling the holder to purchase, in aggregate, 402,500 shares at a price of 10 cents per share, exercisable on or before May 8, 2020.
The shares were approved for listing on the Canadian Securities Exchange on May 4, 2018, and will begin trading on May 9, 2018, under the symbol PIVT.
About Pivit Exploration Inc.
Pivit is engaged in the business of mineral exploration and the acquisition of mineral property assets in British Columbia. Its objective is to locate and develop economic precious and base metal properties of merit, and to conduct its exploration program on the Lennac Lake property. The Lennac Lake property comprises eight contiguous mineral tenures covering an area of 2,875.46 hectares.Back to Past News