Cavan Ventures arranges $750,000 private placement

Jul 16, 2013

Mr. Peter Swistak reports

CAVAN ANNOUNCES FINANCING

Cavan Ventures Inc. has arranged a non-brokered private placement of up to 15 million units at a price of five cents per unit for total gross proceeds of $750,000. Each unit will comprise one common share and one share purchase warrant of the company. Each warrant will entitle the holder to purchase one share for a period of 24 months from the closing date at an exercise price of 10 cents per warrant share.

The company may, in its sole discretion, pay a finders’ fee to agents of the company consisting of: (i) a cash fee in an amount of 10 per cent of the proceeds raised by such finder as part of this offering, and (ii) a number of finder warrants entitling the holder thereof to purchase that number of shares of the company that is equal up to 10 per cent of the number of units placed through the finder as part of this offering. Each finder warrant will entitle the holder to purchase one share for a period of 12 months from the closing date at an exercise price of 10 cents per finder warrant.

The proceeds raised will be used for general corporate purposes and for advancing its Cage graphite project in Ontario, which is adjacent to Zenyatta Ventures Ltd.’s Albany property.

The private placement is subject to the approval of the TSX Venture Exchange.

We seek Safe Harbor.

http://www.cavanventuresinc.com/news.html