VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 02/02/15 -- Pantheon Ventures Ltd. ("Pantheon" or the "Company") (TSX VENTURE: PVX) is pleased to announce that it has completed its previously announced private placement of units (each, a "Unit"). Pantheon issued a total of 14,833,333 Units at a price of $0.03 per Unit for gross proceeds of $445,000 (the "Offering"). Each Unit is comprised of one common share in the capital of the Company (a "Common Share") and one common share purchase warrant (a "Warrant"). Each Warrant entitles the holder to purchase one Common Share at a price of $0.10 per share at any time within 24 months of the date of issuance. In connection with the completion of the Offering, the Company paid a cash commission of up to 6% of the gross proceeds raised to eligible finders who introduced subscribers to the Offering; aggregate cash fees in the amount of $2,820.60 were paid to eligible finders. All of the securities issued under the Offering are subject to a four month resale restriction which expires May 31, 2015. The Offering has received final TSX Venture Exchange approval.
Pantheon intends to use the net proceeds of the Offering to preserve existing operations, assets and activities, and for general corporate and working capital purposes.
About the Company
The Company is engaged in the business of iron ore exploration. Its primary objective is to locate and develop economic properties of merit. Pantheon is currently focused on its exploration program on the Kokoko Property which is comprised of 14 mineral claims located in the Sudbury Mining Division, Ontario.
Reader Advisory
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Contacts:
Pantheon Ventures Ltd.
Mike Blady, Director
T: (604) 639-4450
