COBRA VENTURE ARRANGES $300,000 PRIVATE PLACEMENT
November 19, 2007
Mr. Daniel Evans reports
COBRA VENTURE CORPORATION ANNOUNCES $300,000 PRIVATE PLACEMENT
Cobra Venture Corp. plans to complete a private placement, of up to one million units of the corporation at a price of 30 cents per unit for gross proceeds of up to $300,000.
Each unit will consist of one common share in the capital of the corporation issued on a flow-through basis and one common share purchase warrant. Each whole warrant will entitle the holder to purchase one common share of the corporation at an exercise price of 35 cents per common share for a period of 24 months from the closing of the offering.
The offering is subject to receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange. The units will be offered in certain provinces of Canada by way of private placement pursuant to applicable prospectus exemptions. The securities issued pursuant to the offering will be subject to a four-month hold period. Closing of the offering is expected to occur on or about Dec. 14, 2007.
Net proceeds of the offering are intended to be used by the corporation to finance continuing exploration programs of the corporation.