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TVI PACIFIC CLOSES $1.34 MILLION NON-BROKERED PRIVATE PLACEMENT

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TVI PACIFIC CLOSES $1.34 MILLION NON-BROKERED PRIVATE PLACEMENT

 

 

 

 

 

TVI Pacific Inc. (TSXV: TVI); (OTC Pink: TVIPF) is pleased to announce that, further to its press releases dated May 30, 2023, June 26, 2023, July 31, 2023 and August 15th (as it related to an extension), the Company has completed and closed its previously announced non-brokered private placement to Prime Resources Holdings, Inc. of 53,600,000 common shares in the capital of the Company, at a price of $0.025 per share, for gross proceeds of $1,340,000 (or approximately US$1,000,000).

 

The Company plans to use the proceeds of the Private Placement for general corporate working capital.  The common shares issued pursuant to the Private Placement are subject to a statutory 4-month and one day hold period from the date of issuance.  No finder’s fee or commissions are payable by the Company in connection with the Private Placement.

 

“We are once again pleased that our current shareholder and partner in TVI Resource Development Phils., Inc. has taken steps to invest further in TVI Pacific,” said Mr. Cliff James, Chairman and CEO of TVI and Chairman of TVIRD, “We welcome the PRHI representatives to the board of TVI Pacific and believe their involvement reflects our shared confidence in both TVI Pacific and the many mines and projects at the level of TVIRD that we jointly manage.”

 

About TVI Pacific Inc. 

 

TVI Pacific Inc. is a Canadian resource company focused on mining projects in the Philippines, one of the most prolifically mineralized countries in the world.  TVI currently holds a 30.66% equity interest in TVIRD, a Philippines corporation.  Through TVIRD, TVI has ownership in a currently producing gold mine and is focused on bringing on-stream the Siana gold mine at which equipment has been rehabilitated and commissioning of the plant has commenced in line with TVIRD’s plan to restart operations.

 

About Prime Resources Holdings, Inc.

 

Prime Resources Holdings, Inc. is a Philippine company organized primarily to hold Mr. Manuel Paolo A. Villar’s interests in the mining industry.  PRHI is the largest and controlling shareholder of TVIRD, holding 68.42% thereof.   PRHI is an affiliate of Prime Asset Ventures, Inc. a Philippine company with focus on building and developing critical community infrastructure.  PAVI currently holds major investments in subsidiaries operating in a variety of industries, including power and water utilities, information technology and telecommunications, financial services, and broadcast services.

 

Posted August 16, 2023

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