Ocean Park Announces $2,000,000 Private Placement
December 01 2010 - 4:17PM
Marketwired
Ocean Park Ventures Corp. (TSX VENTURE: OCP) is pleased to announce
that, subject to regulatory approval, it will conduct a
non-brokered private placement of up to 3,700,000 flow-through
common shares at a price of $0.55 per share, for gross proceeds of
up to $2,035,000. The Company has agreed to allocate a portion of
the offering to subscribers found by Axemen Resource Capital Ltd.,
an exempt market dealer, and may agree to similar allocations to
other exempt market or investment dealers. The Company will pay
finders' fees equal to 5% of subscription amounts received, payable
in cash or non-flow-through shares, in addition to finders'
warrants equal to 5% of the number of shares subscribed for, each
exercisable into one non-flow-through common share of the Company
at a price of $0.55 per share for a period of 18 months from
closing.
The financing remains subject to the approval of the Exchange.
All securities issued pursuant to the private placement will be
subject to a four month hold period.
The funds raised from the financing will be used to fund
exploration on the Trapper Gold Project recently optioned by the
Company.
The Company also announces the appointment of Mr. Tony M. Ricci
as a director of the Company. Mr. Ricci has been the CFO of the
Company since August and is a Chartered Accountant with over 20
years of practice experience with public companies listed in Canada
and the United States. Mr. Ricci is also the current Chief
Financial Officer of Keegan Resources Inc. He was a former director
and CFO of Norsemont Mining Inc. and CFO of both Petaquilla
Minerals Ltd. and Petaquilla Copper Ltd., companies with a combined
market capitalization approaching $1 billion. Mr. Ricci was
formerly with KPMG and AMEC Engineering Inc.
ON BEHALF OF THE BOARD
Paul Matysek, Chairman
Neither the TSX Venture Exchange nor its Regulation Services
Provider accepts responsibility for the adequacy or accuracy of
this release.
Contacts: Ocean Park Ventures Corp. Paul Matysek Chairman
1-866-824-8938
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