Vancouver, British Columbia / Sceptre Ventures Inc. (the "Company") (SVP.H-TSXV) announces a non-brokered Private Placement of a minimum of 10,000,000 and up to a maximum of 20,000,000 common shares in the Company (each, a "Share") at a price of $0.05 per share for aggregate gross proceeds of at least $500,000 and up to $1,000,000 (the "Offering"). In connection with Offering, the Company may pay finders fees to arms length parties consisting of (i) cash commission of up to 10% of the gross proceeds of the Offering and (ii) broker warrants ('Broker Warrants") in an amount up to 10% of the total number of shares sold under the Offering. Each Broker Warrant will expire 12 months from the date of issue and will entitle the holder to purchase one common share of the Company at a price of $0.10 per share at any time up to the expiry date. The proceeds raised will be used for general working capital and to pay for expenses related to identification, evaluation and completion of a Qualifying Transaction.
The Offering is subject to TSX (NEX) Venture Exchange approval.
The Company further announces that consultants, Mr. Jaime Stallwood and Mr. Graham Abbott, have agreed to accept shares in lieu of cash for the repayment of outstanding fees totaling $42,500 each for corporate development services (the "Services") provided. As repayment for the Services Mr. Stallwood and Mr. Abbott will each receive a total of 708,333 common shares of the Company at a deemed price of $0.06 per share, a 20% premium to the closing price on March 26th, 2014. The common shares to be issued in connection with the settlement are being issued to preserve cash.
About Sceptre Ventures Inc.
Sceptre Ventures Inc. is a Capital Pool Company ("CPC") within the meaning of the policies of the TSXV and has not commenced commercial operations and has no assets other than cash. The Company is currently engaged in identifying and evaluating businesses and assets with a view to completing a Qualifying Transaction under the TSXV CPC policies.
For Further Information:
Mr. Graham Abbott Mr. Jaime Stallwood
Tel: 604-688-4219 ext. 237 Tel: 604-688-4219 ext.236
Email: email@example.com Email: firstname.lastname@example.org
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement On Forwarding- Looking Information: The statements made in this news release may contain certain forward-looking statements. Actual events or results may differ from the Company's expectations. Certain risk factors may also affect the actual results achieved by the Company. INVESTORS ARE CAUTIONED THAT TRADING IN THE SECURITIES OF A CAPITAL POOL COMPANY SHOULD BE CONSIDERED HIGHLY SPECULATIVE.
Release ID: 37912