Cyntar Ventures Inc. Closes $1.5 Million Private Placement
Vancouver, British Columbia--(Newsfile Corp. - April 16, 2021) - CYNTAR VENTURES INC. (CSE: CYN) (the "Company") wishes to announce the closing of its previously announced (the "Offering") non-brokered private placement (see press release dated February 22, 2021), for gross proceeds of $1,500,000 (the "Proceeds"). The Company issued 10,000,000 common shares at a price of $0.15 per common share. The common shares are subject to a four month and one day hold. A finder's fee equal to 7.5% of the Proceeds will be paid in connection with the Offering.
The closing is subject to certain conditions including receipt of all necessary regulatory approvals, including approval of the CSE.
Additionally, the Company wishes to announce a further private placement offering of up to 7,500,000 warrants (each a "Warrant" and collectively, the "Warrants") at a price of $0.05 per Warrant for gross proceeds of up to $375,000. Each Warrant is exercisable into one additional common share of the Company (each a "Warrant Share") upon payment of $0.15 per Warrant Share. The Warrants will expire on the third-year anniversary of their issuance.
For further information, please contact:
Phone: (647) 558 5564
ON BEHALF OF THE BOARD OF DIRECTORS
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This news release contains forward-looking information relating to the Company's proposed activities and other statements that are not historical facts. Forward-looking information relates to management's future outlook and anticipated events or results, and include statements or information regarding the future plans or prospects of the Company. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. These factors include risks and uncertainties associated with the results of diligence investigations, developments in the cannabis sector, delays resulting from or inability to obtain required regulatory approvals and ability to access sufficient capital from internal and external sources, reliance on key personnel, regulatory risks and delays and other risks and uncertainties discussed in the management discussion and analysis section of the Company's interim and most recent annual financial statement or other reports and filings, including the Company's Listing Statement, made with the applicable Canadian securities regulators. There can be no assurance that such information will prov e to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.
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