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CALGARY, June 4 /CNW/ - Artevo Corporation ("Artevo" or the "Corporation") (TSX Venture: AEV) is pleased to announce that it has closed on a portion of its previously announced private placement (the "Private Placement") for aggregate gross proceeds of $360,000. Pursuant to the closing of the Private Placement, the Corporation has issued 360,000 secured debentures (the "Debentures") of the Corporation and 120,000 common share purchase warrants (the "Warrants") of the Corporation. The securities issued will have a hold period of four (4) months from the date of issuance. The Corporation is also pleased to announce that it has increased its previously announced Private Placement of up to $3,000,000 principal amount of Debentures to up to $4,000,000 of Debentures, subject to applicable debenture holder and regulatory approvals. All other terms of the Private Placement will remain the same as previously announced.
Artevo is a technology driven company focused on the production, marketing and distribution of collectable fine art products.
The Corporation is headquartered in Calgary, Alberta. For further information contact Christopher Talbot, the President and Chief Executive Officer of Artevo at (403) 244-8123.
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Reader Advisory
"This news release contains certain forward-looking statements, which include assumptions with respect to future operations. The reader is cautioned that assumptions used in the preparation of such information may prove to be incorrect. All such forward looking statements involve substantial known and unknown risks and uncertainties, certain of which are beyond Artevo's control. Such risks and uncertainties include, without limitation, risks associated with, currency fluctuations, competition from other companies, ability to access sufficient capital from internal and external sources, the impact of general economic conditions in Canada, the United States and overseas, industry conditions, changes in laws and regulations and changes in how they are interpreted and enforced, increased competition, the lack of availability of qualified personnel or management, fluctuations in foreign exchange or interest rates, stock market volatility and market valuations of companies with respect to announced transactions and the final valuations thereof, and obtaining required approvals of regulatory authorities. Artevo's actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits, including the amount of proceeds, that the Corporation will derive there from. Readers are cautioned that the foregoing list of factors is not exhaustive. All subsequent forward-looking statements, whether written or oral, attributable to Artevo or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and Artevo does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws."
For further information: Artevo Corporation, Christopher Talbot, President and CEO, T (403) 244-8123, C (403) 397-1744, Christopher.talbot@artevo.com
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