Planet Ventures Completes $2 Million Private Placement
VANCOUVER, BRITISH COLUMBIA -- February 21, 2024 -- NewsGenie -- Planet Ventures Inc. (CSE:PXI) has finalized a non-brokered private placement, raising $2,000,000 through the issuance of 100,000,000 common shares at $0.02 each.
The company intends to allocate the proceeds towards its investment objectives, initiatives, and general working capital. The issued securities are subject to a statutory hold period of four months and one day. No finder’s fees were paid.
Insiders, including a director and two officers, subscribed for 40,250,000 shares, which is considered a "related party transaction" under MI 61-101. The company relied on exemptions from valuation and minority approval requirements.
The securities have not been registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption. This announcement does not constitute an offer to sell securities.
Planet Ventures focuses on investing in disruptive, high-growth companies.
Christopher Cooper, Director, represents Planet Ventures.