Vancouver, BC / TheNewswire / March 13, 2017 - Alta Vista Ventures (AVV-CSE) (the “Company”) announces that it has filed all required paperwork, issued 5,190,000common shares at a price of $0.05, and 5,190,000 share purchase warrants and has formally closed tranche one of its ongoing financing (see news release dated March 1, 2017).

 

All securities issued pursuant to this placement are subject to a hold period until July 7, 2017 (four months and one day after closing) under applicable Canadian securities laws.  Each Unit consists of one previously unissued common share and one non-transferable purchase warrant (a “Warrant) of the Company. Each Warrant issued entitles the holder, on exercise, to purchase one additional common share of the Company (a “Warrant Share”) until March 6, 2018. The Warrants will be exercisable at a price of $0.10 per share.  

 

Finders fees were paid to PI Financial ($4,000 and 80,000 brokers warrants), and Foremost Capital ($1,750 and 35,000 brokers warrants).   The brokers warrants have the same terms as the Warrants as per above.

 

The Company intends to use the funds to pay the promissory note with the previous owner of High Eye Aerial Imaging (see news release dated January 6, 2017), certain debts and as operating capital.

  

About Alta Vista Ventures:

 

Through its wholly owned subsidiaries - Pioneer Aerial Surveys and High Eye Aerial Imaging - Alta Vista Ventures is implementing its plan to become a full spectrum leader within the Unmanned Aerial Vehicle (or ‘UAV’) industry.  Alta Vista will continue its growth through expanding the business of its subsidiaries and the continued evaluation of potential acquisition with the goal of creating a consortium of businesses that will cover all aspects of the UAV industry.  

  

On behalf of the Board,

“Jason Springett”

Jason Springett

President & CEO

  

For additional information on Alta Vista Ventures please contact the Company at 604-678-2531

 

Neither Canadian Securities Exchange (CSE) nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

 

Statements in this press release, other than purely historical information, including statements relating to the Company’s future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.