Vancouver, British Columbia--(Newsfile Corp. - March 8, 2012) - Pantheon Ventures Ltd. (TSXV: PVX) ("Pantheon" or the "Company"), is pleased to announce that it has completed its initial public offering ("IPO") of 5,000,000 units at $0.15 per unit (each, a "Unit"). Each Unit is comprised of one common share of the Company and one share purchase warrant entitling the holder thereof to purchase one additional common share of the Company at a price of $0.25 at any time up to the close of business 24 months from March 8, 2012.
The Company's common shares have been listed for trading on the TSX Venture Exchange (the "TSX-V") and are expected to commence trading under the symbol "PVX" at the opening of market on March 12, 2012.
Jordan Capital Markets Inc. (the "Agent") acted as agent for the IPO. As consideration, the Agent received: (i) a cash commission equal to 10% of the gross proceeds of the IPO; (ii) a corporate finance fee; and (iii) non-transferable Agent's options (the "Agent's Options") equal to 6% of the Units sold under the IPO. The Agent was also reimbursed for its legal and other expenses, as incurred. The Agent’s Options entitle the Agent to purchase Agent's units (each, an "Agent's Unit") at a price of $0.15 per Agent's Unit at any time up to the close of business 24 months from March 8, 2012. Each Agent's Unit is comprised of one common share and one common share purchase warrant, entitling the holder thereof to purchase one additional common share at a price of $0.25 at any time up to the close of business 24 months from March 8, 2012.
An aggregate of 9,800,000 common shares are issued and outstanding following completion of the IPO.
The Company's Prospectus and material information is available for review on SEDAR.
About the Company
The Company is engaged in the business of mineral exploration in Ontario. Its objective is to locate and develop economic precious and base metals properties of merit and to conduct its exploration program on the Kokoko Property. The Kokoko Property is comprised of 14 mineral claims located in the Sudbury Mining Division, Ontario.
ON BEHALF OF THE BOARD
PANTHEON VENTURES LTD.
/s/ Mitchell Adam
Mitchell Adam
President, Director
For further information contact:
mitch@mgacapital.net
Tel: (604) 678-5308
Fax: (604) 678-5309
Toll Free: 1-855-678-5308
Neither 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.
Source: Moovly Media Inc.