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Exploration Orbite V.S.P.A. Inc.: Private Placement of $200,000
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| Symbol | Price | Change |
|---|---|---|
| ORT-A.V | 0.13 | +0.01 |
MONTREAL, QUEBEC--(Marketwire - 07/08/09) - EXPLORATION ORBITE V.S.P.A. INC. (TSX-V:ORT.A - News) announces that it is proceeding with a private placement of a maximum of 40 units at $5,000 per unit for a total of $200,000. This placement is offered the "Qualified Investors" only. Each unit is made up of: i) 40,000 flow-through class "A" shares at $0.10 each; ii) 10,000 non flow-through class "A" shares at $0.10 each and iii) 25 000 share purchase warrants, each warrant entitling the holder to purchase one class "A" share at $0.20, for a 12-month period.
The proceeds from offering will be used on the Grande-Vallee property and working capital.
The shares issued pursuant to the offering will be subject to a four-month holding period. No finder's fee will be payable for the transaction, which is subject to regulatory approval.
Neither the TSX Venture Exchange nor the provider of services regulation (as defined in the policies of the TSX Venture) does not accept responsibility for the veracity and accuracy of this release.
Contact:
Contacts:
Exploration Orbite V.S.P.A. Inc.
Pierre Gevry, Vice-president
514-849-7336
514-849-9260 (FAX)
st-jacques@qc.aira.com
www.explorationorbite.com
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