Infinity Stone Closes Third Tranche of Private Placement
Vancouver, British Columbia--(Newsfile Corp. - August 30, 2022) - Infinity Stone Ventures Corp. (CSE: GEMS) (OTC Pink: TLOOF) (FSE: B2I) (the "Company" or "Infinity Stone"), is pleased to announce the closing of the third tranche of a financing (the "Financing") of units (each, a "Unit") of the Company through the issuance of 2,333,332 Units at a price of $0.15 per Unit, for gross proceeds of $350,000. Each Unit is comprised of one Class A Subordinate Voting Share (a "Share") and one-half (1/2) of one share purchase warrant (a "Warrant"). Each whole Warrant is exercisable into one (1) Share (a "Warrant Share") at a price of $0.30 for a period of three (3) years from the date of issuance.
The Company has raised a total of $750,500 and issued a total of 5,003,331 Units in the three tranches of this financing.
In connection with the third tranche, the Company issued 49,600 finders' warrants, and paid finder's fees of $7,440. Each finders' warrant is exercisable at a price of $0.30 for a period of two (2) years from the date of issuance.
The Company intends to use the net proceeds from the financing towards general working capital.
The Company also announces it has issued 550,000 stock options at an exercise price of $0.30 for a three-year term to directors, officers and consultants.
About Infinity Stone Ventures
Infinity Stone's mission is to be a diversified, single source supplier for the critical energy metals being used in the clean energy revolution alongside its established SaaS solution portfolio. The Company's primary business units include HealthCheck (Stratum Health Technologies LLC) and its energy metals portfolio. Infinity Stone is meeting the demand from battery and wind turbine manufacturers, nuclear and hydrogen energy producers, and energy metals speculators by acquiring 100% interest in critical mineral deposits and occurrences in stable mining-friendly jurisdictions, close to final use destinations in North American manufacturing hubs.
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Infinity Stone Contact
CEO and Director
The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.
Forward-Looking Statements Disclaimer
This press release contains "forward-looking information" within the meaning of applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "projects", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward-looking statements, including statements respecting: the Private Placement; and the expected use of proceeds from the Private Placement. Although forward-looking statements contained in this press release are based upon what management of Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The forward-looking statements may also be affected by risks and uncertainties in the business of the Company, including those described in the Company's public filings available on www.SEDAR.com. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.
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