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| Home : Azul Ventures Announces A Proposed Consolidation, Private Placement and Property Acquisition |
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Jul 01
2014 |
Azul Ventures Announces A Proposed Consolidation, Private Placement and Property Acquisition |
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TORONTO, ONTARIO--(Marketwired - June 30, 2014) - Azul Ventures Inc. ("Azul" or the "Company") (TSX VENTURE:AZL) announces that it intends to seek approval from shareholders for a consolidation of the common shares of Azul on three for one (3:1) basis, such that the existing 30,699,362 common shares will be consolidated and there were be approximately 10,233,121 post-consolidated common shares issued and outstanding (the "Consolidation"). Conditional on the approval and completion of the Consolidation, Azul proposes to undertake a non-brokered private placement offering of up to 28,000,000 post-consolidated common shares of Azul at a price of $0.05 per post-consolidated common share for aggregate gross proceeds of up $1,400,000 (the "Offering"). Assuming completion of the Offering, the net proceeds will be used to fund the Company's exploration and development activities, to repay the outstanding debt in full and for general corporate purposes. |
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| Source:http://www.marketwired.com/mw/release.do?id=1925822&sourceType=3 |
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