Tocvan Ventures Corp. announced a non-brokered private placement of 2,857,142 units at a price of CAD 0.35 per unit for aggregate gross proceeds of up to CAD 999,999.7 on April 10, 2024. Each unit will consist of one common share and one share purchase warrant, with each unit warrant entitling the holder to purchase one additional common share at a price of CAD 0.50 per unit warrant share, for a period of thirty-six months from the date of issue.

The company may pay finders a fee in cash and/or share purchase warrants under the non-brokered offering. The first tranche of the institutional offering is expected to close on or before April 22, 2024. The closing of the offerings is subject to several conditions, including receipt of all necessary corporate and regulatory approvals, including the Canadian Securities Exchange.

All the securities 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 as well as the required legend under applicable U.S. securities legislation.