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CVN Cavan cancels offering, arranges another for $350,000



More interest.....and now non-flow through with more $$$ raised.

Cavan cancels offering, arranges another for $350,000

2013-12-04 16:52 ET - News Release



Mr. Peter Swistak reports

CAVAN ANNOUNCES REVISED PRIVATE PLACEMENT

Cavan Ventures Inc. is not proceeding with the private placement previously announced on Oct. 17, 2013. Instead, the company has arranged a non-brokered private placement of up to seven million units at a price of five cents per unit for aggregate gross proceeds of up to $350,000. Each unit will be composed of one flow-through common share in the capital of the company and one non-flow-through share purchase warrant of the company. Each warrant will entitle the holder to purchase one non-flow-through common share in the capital of the company 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 finder's 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's warrants entitling the holder thereof to purchase that number of shares of the company that is equal to up to 10 per cent of the number of units placed through the finder as part of this offering. Each finder's warrant will entitle the holder to purchase one non-flow-through common share in the capital of the company for a period of 12 months from the closing date at an exercise price of 10 cents per finder's warrant share. The proceeds raised will be used for general corporate purposes and for advancing two of its 100-per-cent-owned graphite projects: the Buckingham graphite project in the Buckingham Valley area of southwestern Quebec adjacent to the old Walker mine and the Lake 19 graphite project in Saskatchewan adjacent to North Arrow Minerals Inc.'s Pikoo project.

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

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Cavan Announces Flow-Through Financing

October 17, 2013 VANCOUVER, B.C. – Cavan Ventures Inc. ("Cavan" or the "Company") (CVN-TSX:V) announces that it has arranged a non-brokered private placement of up to 5 million flow-through units ("Units") at a price of $0.06 per Unit for aggregate gross proceeds of $300,000 (the "Offering"). Each Unit will be comprised of one flow-through common share ("Share") and one non-flow-through share purchase warrant of the Company ("Warrant"). Each Warrant will entitle the holder to purchase one Share (a "Warrant Share") for a period of 24 months from the closing date at an exercise price of $0.10 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% of the proceeds raised by such finder as part of this Offering, and (ii) a number of finder's warrants entitling the holder thereof to purchase that number of Shares of the Company ("Finder's Warrant") that is equal up to 10% of the number of units placed through the finder as part of this Offering. Each Finder's Warrant will entitle the holder to purchase one Share for a period of 12 months from the closing date at an exercise price of $0.10 per Finder's Warrant.

The proceeds raised will be used for general corporate purposes and for advancing two of its 100%-owned graphite projects, the Buckingham graphite project in the Buckingham Valley area of southwestern Quebec adjacent to the old Walker Mine and the CAGE graphite project in Ontario adjacent to Zenyatta Ventures Ltd. Albany property.

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

The Company also announces the resignation of Lorne McCarthy as a Director of Cavan Ventures. The Company would like to thank Mr. McCarthy for his contributions and wish him well in his future endeavours.

Cavan Venture’s mission is to identify, acquire, and advance high potential mining prospects located in North America for the benefit of its stakeholders. For more information visit the website at www.cavanventuresinc.com.

ON BEHALF OF THE BOARD

Peter P. Swistak, President

FOR FURTHER INFORMATION PLEASE CONTACT:

Telephone: [phone]

Toll Free: 1-888-945-4770

Read more at http://www.stockhouse.com/companies/bullboard/v.cvn/cavan-ventures-inc?postid=21974076#GdW5q2gaqlKivGDC.99