Cavan Ventures Inc (fka CVN)

[SPARK]

Cavan Ventures completes $240,250 final tranche

2012-03-26 14:00 ET - News Release



Mr. Peter Swistak reports

CAVAN CLOSED FINAL TRANCHE OF ITS PRIVATE PLACEMENT

Further to its news release dated Feb. 13, 2012, and March 9, 2012, Cavan Ventures Inc. has completed the final tranche of its non-brokered private placement of 4,805,000 units at a price of five cents per unit for gross proceeds of $240,250.

Each unit comprises one common share and one common share purchase warrant of the company. Each warrant will entitle the holder to purchase one share at a price of 10 cents per warrant share until March 23, 2014.

Finders' fees consisting of 396,000 broker warrants and $19,800 in cash were paid in accordance with the policies of the TSX Venture Exchange. Each broker warrant will entitle the holder to purchase one share of the company at a price of 10 cents per share until Sept. 23, 2013.

All securities issued pursuant to the private placement are subject to a hold period expiring on July 24, 2012.