Savoy Ventures Lists on the TSX Venture Exchange - Video News Alert on Investmentpitch.com
Vancouver, British Columbia--(Newsfile Corp. - October 30, 2013) - Savoy Ventures (TSXV: SVO) is one the latest new listings on the TSX Venture Exchange. The company completed an initial public offering of 4 million common shares at $0.15 per share, raising gross proceeds of $600,000 with Mackie Research Capital acting as agent for the offering. The prospectus is available for viewing on Sedar.com.
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The company is engaged in the acquisition and exploration on mineral properties, and currently has an option to acquire a 100% interest in the Big Range Property in south central British Columbia, Canada. The property consists of 14 mineral tenures with a total area of approximately 6,900 hectares.
Under the Big Range Option Agreement, the Company will be required to pay total cash payments of $165,000, issue a total of 600,000 Common Shares and incur total exploration expenditures of $2,600,000 over a period of four years.
Previous geophysical surveys outlined the known magnetic anomalies but provided little interpretation. The company intends to implement a two phase exploration program, with the first stage consisting of an IP geophysical survey in order to define trenching and drilling targets.
There are 9.4 million shares outstanding, with 1.6 million shares held in escrow. For more information, please contact Greg Amor at 604-895-7446 or email firstname.lastname@example.org.
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Barry Morgan, CFO