AXCAP VENTURES Secures $14.23 Million in Upsized Offering

AXCAP VENTURES INC. announced the closure of the first tranche of its upsized non-brokered private placement financing. On December 10, 2024, the company issued 71,153,500 special warrants at $0.20 each, raising $14,230,700. Each special warrant will convert into one common share and one warrant, allowing the purchase of a common share at $0.20 within five years.

The conversion of special warrants will occur automatically, no later than four months and one day after issuance. AXCAP paid $726,634 and issued 3,633,170 finder's warrants in fees to eligible finders.

The proceeds will support AXCAP's investments in mineral exploration and corporate purposes. However, the issued securities are not registered under the U.S. Securities Act and cannot be sold in the U.S. without proper registration or exemption.