Tocvan Ventures Corp. (TOC) has closed a private placement with an institutional investor for gross proceeds of $5.125 million.
The proceeds from the placement will be deposited with a third-party escrow agent and delivered in monthly tranches over the next 24 months. The funds will go towards advancing the Pilar and El Picacho Au-Ag projects in Sonora, Mexico and for general working capital purposes.
“We are very pleased to align with a strategic investor to support us through our next growth phase and guarantee we are funded to develop our projects for the next two years and beyond. We have a track record of performing exceptionally well with a limited budget; this agreement has us seeing the potential upside of continuing that performance while advancing our gold-silver assets in Mexico.”
Tocvan is an early-stage natural resource company engaged primarily in the acquisition, exploration and development of mineral properties.
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Tocvan Ventures – $5.125M Financing Closed
