Alta Vista Ventures closes $259,500 private placement

CPE News

Vancouver (pcJ News Briefs) – Alta Vista Ventures (CSE: AVV-CSE) has filed and closed first tranche of previously announced private placement, issuing 5,190,000 units at $0.05 per unit for gross proceeds of $259,500.

Each unit consists of one common share and one non-transferable purchase warrant exercisable for one additional common share at $0.10 per share until March 6, 2018.

Finders fees were paid to PI Financial ($4,000 and 80,000 brokers warrants), and Foremost Capital ($1,750 and 35,000 brokers warrants).

Alta Vista Ventures intends to use the funds to pay the promissory note with the previous owner of High Eye Aerial Imaging (see news release dated January 6, 2017), certain debts and as operating capital.

Alta Vista Ventures, through its wholly owned subsidiaries – Pioneer Aerial Surveys and High Eye Aerial Imaging, is implementing its plan to become a full spectrum leader within the Unmanned Aerial Vehicle (UAV) industry.