Bougainville Ventures arranges $1M private placement


Bougainville Ventures Inc. has arranged a private placement of units at a price of 20 cents per unit for gross proceeds of up to $1-million. The company has made an allowance for an oversubscription of up to 100 per cent of the expected gross proceeds of $1-million.

Each unit comprises one common share of the company and one common share purchase warrant. Each warrant entitles the holder to purchase one additional common share of the company at an exercise price of 30 cents per warrant share for a term that is 24 months from the date of closing of the private placement.

The proceeds of the private placement will be used for general working capital.

The company wishes to correct a typo in its news release dated Oct. 31, 2018, in which it announced the closing of a previously announced private placement with gross proceeds of $308,000 and 1,232,000 units. The previously announced private placement closed with gross proceeds of $320,500 and 1,282,000 units.

About Bougainville Ventures Inc.

Bougainville provides cannabis infrastructure and seed-to-sale services to I-502 tenant-growers leasing greenhouse facilities space and providing fully built out, turnkey solutions and ancillary services including processing, cannabis expertise, and marketing and sales resources. Greenhouse canopies provide a 50-per-cent saving in cultivation cost.

We seek Safe Harbor.


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