Tocvan Ventures Corp. announced a non-brokered private placement of up to 1,111,111 units at a price of CAD 0.45 per unit for the gross proceeds of up to CAD 499,999.95 on November 3, 2023. Each unit is composed of one common share of the company and one common share purchase warrant.

Each warrant will entitle the holder to acquire one additional share in the capital of the company at a price of CAD 0.60 for a period of 24 months from the date of issuance. Closing of the offering is subject to several conditions, including receipt of all necessary corporate and regulatory approvals, including the CSE. All securities issued in connection with the offering will be subject to a statutory hold period of four months plus a day from the date of issuance, in accordance with applicable securities legislation in Canada.

The company may pay finders fees and finder warrants to eligible finders.