Mr. Scott Ackerman
reports
TABLAS ANNOUNCES PRIVATE PLACEMENT AND DEBT SETTLEMENT
Tablas Ventures Corp. has arranged a non-brokered private placement to raise gross proceeds of $101,250 through the issuance of 900,000 common shares of the company at a deemed price of 11.25 cents per share.
The proceeds of the financing will be used to settle certain debt of the company and for working capital purposes. No finders' fees will be payable in connection with the financing.
The company also announces that it has reached agreement with certain creditors of the company to settle an aggregate of $95,865 in liabilities through the issuance of 852,136 common shares of the company at a deemed price of 11.25 cents per share. It is anticipated that the Emprise Special Opportunities Fund (2017) Limited Partnership, a controlling shareholder of the company, will participate in the debt settlement.
Securities issued under the financing and debt settlement will be subject to a statutory hold period of four months and one day from the date of issuance. The financing and debt settlement are subject to the approval of the TSX Venture Exchange.
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