Lotus Closes First Tranche of $2 Million Private Placement

Lotus Closes First Tranche of $2 Million Private Placement

October 1, 2018

Lotus Ventures Inc. has closed the first tranche of its non-brokered private placement financing by issuance of 7.68 million units at a price of 25 cents per unit for gross proceeds of $1.92-million. Each unit consists of one common share and one transferable share purchase warrant, each warrant exercisable to purchase one common share at 30 cents per share for five years. Securities issued pursuant to the financing are subject to a four-month hold period under applicable Canadian securities laws. The proceeds from the offering will be used for working capital and general corporate purposes.

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