Valley High Ventures Ltd. VHV:CA increased the over-allotment option to Canaccord Genuity Corp. pursuant to its previously announced private placement of 10 million units at $0.75 per, for gross proceeds of $7.5 million. The over-allotment option has been increased by 680,000 units and will now permit Canaccord to purchase up to an additional 4,080,000 units for additional gross proceeds of up to $3,060,000.
Valley High intends to use the proceeds of the offering to conduct exploration on its projects in Mexico and Canada and for general working capital purposes.
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by Ted Niles