Tocvan Ventures Corp. Updates on Dividend Date for Cascade Copper Shares
Calgary, June 15, 2023 - Tocvan Ventures Corp. (the "Company") (CSE:TOC); (OTC:TCVNF); (FSE:TV3), is pleased to announce that the 5,000,000 common shares it previously received from the sale of the Rogers Creek Property to Cascade Copper Corp. ("Cascade") on April 22, 2022 will be paid to Tocvan shareholders as an in specie dividend in the form of Cascade common shares. Tocvan's board of directors has set a record date of May 31, 2023 (the "Record Date") for the dividend. The in specie dividend is scheduled to be paid to all Tocvan shareholders who are registered shareholders on the Record Date. Eligible Tocvan shareholders will receive one Cascade common share for every 7.9852 Tocvan shares they hold at the close of business on the Record Date. Tocvan shareholders will be entitled to a whole number of Cascade common shares, with any entitlement to a fraction of a Cascade common share being rounded down to the nearest whole share. Cascade shares have a current fair market value of $0.11 CAD. The payable date for the dividend is June 16, 2023. About Tocvan Ventures Corp.
Tocvan is a well-structured exploration development company. Tocvan was created in order to take advantage of the prolonged downturn in the junior mining exploration sector, by identifying and negotiating interest in opportunities where management feels they can build upon previous success. Tocvan has approximately 39.9 million shares outstanding and is earning 100% into two exciting opportunities in Sonora, Mexico: the Pilar Gold-Silver project and the El Picacho Gold-Silver project. Management feels both projects represent tremendous opportunity to create shareholder value.
Cautionary Statement Regarding Forward Looking Statements
This news release contains "forward-looking information" which may include, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future. Forward-looking information in this news release includes statements regarding the use of proceeds from the Offering. Such forward-looking information is often, but not always, identified by the use of words and phrases such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
These forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business. Management believes that these assumptions are reasonable. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, among others, risks related to the speculative nature of the Company's business, the Company's formative stage of development and the Company's financial position. Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws.
There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.
For more information, please contact:
Brodie A. Sutherland, CEO
820-1130 West Pender St.
Vancouver, BC V6E 4A4
Telephone: 1 888 772 2452
Email: ir@tocvan.ca