CSE New Listing – Top Strike Resources Commences Trading on the Canadian Securities Exchange – Video News Alert on Investmentpitch.com
Vancouver, British Columbia--(Newsfile Corp. - September 26, 2018) - Top Strike Resources (CSE: VENI) is one of the latest new listing on the Canadian Securities Exchange, having previously traded on the TSX Venture Exchange. The company has transitioned from an oil and gas issuer to a merchant capital firm, rebranded as "Vencanna Ventures Inc.". The recapitalized company aims to be a go-to capital provider for early-stage global cannabis initiatives with an emphasis on state compliant opportunities in limited licensed jurisdictions in the United States.
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The company intends to provide investors with a diversified, high-growth, cannabis investment strategy through strategic investments focused throughout the value chain, such as cultivation, processing and distribution, and including ancillary businesses. The company will target investments with the potential for three to five times return on investment within two to five years.
Management intends to build an initial investment portfolio, with a majority of the capital raised to be invested within the next 12 months, with approximately eighty per cent of the initial investment portfolio consisting of investments in private companies.
The new management team is led by David McGorman, CEO, who brings 25 years of experience in the financial services industry with a wide range of transaction experience. He has participated in over $12 billion in transaction value, including private and public equity issues, debt placements, and a full range of advisory and work-out assignments. Mr. McGorman has had senior positions at Raymond James Ltd., Haywood Securities Inc., and Jennings Capital Inc. where he eventually became President and CEO, guiding them through to its merger with Mackie Research Capital in 2014. He is currently Managing Director of Black Spruce Merchant Capital, a Calgary based merchant bank advisory firm.
The company recently raised gross proceeds of $5.6 million from a non-brokered private placement of approximately 93.2 million units priced at $0.06, with each unit consisting of one share and one-half a warrant with each full warrant exercisable at $0.09 per share for 36 months, subject to an acceleration clause.
The company also raised gross proceeds of $1.6 million from a placement with management of approximately 31.5 million units priced at $0.05 per unit. Each insider unit consisted of one share and one warrant, with the warrant exercisable at $0.06 for 60 months, provide the company is listed on an exchange other than the CSE, or is acquired for cash or securities of a public company not listed on the CSE. Should the company remain on the CSE, the insider warrants are exercisable for 2 shares at $0.06.
For more information, please visit the company's website at www.topstrikeresources.com, contact David McGorman, CEO, at 403-351-1779 or email [email protected].
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