AFR NuVenture Resources Inc (TSE:AFR) has released an update.
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AFR NuVenture Resources Inc. is set to raise up to $180,038 through a non-brokered private placement of its shares at $0.01 each, with the potential issuance of 18,038,681 shares upon successful completion. Proceeds from this placement will primarily fund general administrative expenses, including salaries and rent, with the offering also featuring finder’s fees and warrants for participants. Shareholders have the opportunity to participate, with the offering being partially backstopped by company management and directors.
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