VANCOUVER, BC, CANADA (May 5, 2020) – Codebase Ventures Inc. ("Codebase" or the "Company") (CSE: CODE - FSE: C5B – OTCQB: BKLLF) announces it has completed a second closing of a non-brokered private placement. The Company issued 20,470,000 units at a price of $0.02 per unit, for gross proceeds of $409,400. Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one additional common share at $0.05 for a period of two years from the date of closing. Securities issued pursuant to this financing are subject to trading restrictions until September 5, 2020.
The Company paid finders fees to a qualified finder of $13,072 and issued 653,600 broker warrants, which are on the same terms as the warrants forming part of the units. Net proceeds from the private placement will be used for general working capital and to fund future investments.