Tocvan Ventures Corp. (CSE:TOC) announced it has closed the first trance of its previously announced non-brokered private placement of units for gross proceeds of $369,000.
The company issued an aggregate of 820,000 units at a price of $0.45 each. Each unit includes one share and one warrant exercisable at $0.60 for 24 months.
The funds will advance the company's Pilar gold-silver project in Sonora, Mexico, focusing on expansion acquisition, permitting, and resource development and support resource evaluation drilling and unlock the project's potential.