Consolidated Venturex Announces Non-Brokered Private Placement
February 5, 2007
In its news release dated January 11, 2007, Consolidated Venturex Holdings Ltd. (the “Company”) announced the completion of the first tranche of a non-brokered private placement consisting of 3,000,000 flow through units at a price of $0.10 per unit. At that time, the Company also indicated that it intended to complete a second tranche of its private placement consisting of 1,000,000 non-flow through units at $0.10 per unit. The Company has now decided to increase the size of the non–flow through offering. As a result, the Company is pleased to announce that, subject to regulatory approval, it intends to proceed with a non-brokered private placement (the “Private Placement”) to raise up to $300,000 by the issuance of 3,000,000 non-flow through units at $0.10 per unit (the “Units”). Each Unit will consist of one common share and one warrant, with each warrant entitling the holder to purchase an additional common share at a price of $0.125 for a period of two years from the closing date.
With respect to this Private Placement, the Company will pay a finder’s fee (commission) in the amount of 7% of the Units sold (payable in cash or Units at a deemed price of $0.10 per Unit) and issue warrants entitling the holder to purchase that number of common shares as is equal to 10% of the number of Units purchased by subscribers introduced to the Company by such finders.
The proceeds from this Private Placement will be used for exploration and development of the Company’s properties and for general working capital purposes.
For further information, contact Mr. Clive Shallow, investor communication, at 604-922-2030 or visit the Company’s website at www.consolidatedventurex.com
Consolidated Venturex Holdings Ltd.
“Douglas L. Mason”
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Douglas L. Mason, Chairman
The TSX Venture Exchange has not reviewed this news release and does not accept responsibility for the adequacy or accuracy of this release.
