VANCOUVER, British Columbia – March 18, 2019 – Planet Ventures Inc. (TSX-V: PXI; FSE: P6U) (“Planet” or the “Company”) announces that further to its news release of February 1, 2019, the Company has closed a non- brokered private placement of units (the “Units”) of the Company at $0.05 per Unit (the “Private Placement”).
Pursuant to the Private Placement, the Company issued 22,000,000 Units for aggregate gross proceeds of $1,100,000. Each Unit consists of one common share in the capital of the Company (the “Shares”) and one common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder to purchase one additional Share at a price of $0.10 on or before March 15, 2021.
The Company has paid eligible finders cash commission in the total amount of $33,250, being 7% of the aggregate proceeds from the sale of Shares to purchasers introduced by the finders.
All securities issued in connection with the Offering are subject to a statutory hold period of four months plus a day in accordance with applicable securities legislation ending on July 16, 2019. The net proceeds raised from the Private Placement are intended to be used for general corporate purposes, including general and administrative expenses and investment purposes.
About Planet Ventures Inc.
Planet Ventures Inc. (PXI.V), is a public investment issuer listed on the Toronto Venture Exchange, that is focused on investing in disruptive companies and industries that have high growth potential. Our unique portfolio driven investment policies provide our investors access to emerging and high-growth opportunities while shielding them from any formidable downside.
For more information, please visit our website: planetventuresinc.com
ON BEHALF OF THE BOARD
Chief Financial Officer and Director
INVESTOR RELATIONS CONTACT
PLANET VENTURES INC.
Tel: (604) 681-0084
Fax: (604) 681-0094
Neither the 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.