VANCOUVER, BC, CANADA (April 16th, 2020) – Codebase Ventures Inc. ("Codebase" or the "Company") (CSE: CODE - FSE: C5B – OTCQB: BKLLF) an investment company, announced it is undertaking a non-brokered private placement of up to $1,500,000. The Company will issue up to 75 million units at a price of $0.02 per unit. 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. Proceeds will be used for working capital and to fund future investments. The Company will pay qualified finders fees consisting of 5% in cash.
The Company also announced that it has completed a first closing of the non-brokered private placement. The Company issued 7,500,000 units at a price of $0.02 per unit, for gross proceeds of $150,000. 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 August 16, 2020.
The Company paid finder’s fees to a qualified finder of $5,000. Net proceeds from the private placement will be used for general working capital and to fund future investments.
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