Vancouver, BC / TheNewswire / March 24, 2017 - Alta Vista Ventures (UAV-CSE) (the “Company”) announces that it has filed all required paperwork for tranche 2, issued 5,810,000common shares at a price of $0.05, and 5,810,000 share purchase warrants and has formally closed its financing (see news releases dated March 1 and 13, 2017). Net proceeds from the two tranches totals $541,450.

All securities issued pursuant to tranche two of this placement are subject to a hold period until July 18, 2017 (four months and one day after closing) under applicable Canadian securities laws.  Each Unit consists of one previously unissued common share and one non-transferable purchase warrant (a “Warrant) of the Company. Each Warrant issued entitles the holder, on exercise, to purchase one additional common share of the Company (a “Warrant Share”) until March 17, 2018. The Warrants will be exercisable at a price of $0.10 per share.  

 

Finders fees were paid to PI Financial ($2,800 and 56,000 brokers warrants).   The brokers warrants have the same terms as the Warrants as per above.

 

The Company intends to use the funds to pay certain debts, operating capital and certain assets for High Eye Aerial Imaging.

   

The Company also reports that it has granted 2,050,000 stock options to certain directors, officers and consultants of the Company and its subsidiaries at a value of $0.10 that will expire on March 24, 2020.

  

About Alta Vista Ventures:

 

Through its wholly owned subsidiaries - Pioneer Aerial Surveys and High Eye Aerial Imaging - Alta Vista Ventures is implementing its plan to become a full spectrum leader within the Unmanned Aerial Vehicle (or ‘UAV’) industry.  Alta Vista will continue its growth through expanding the business of its subsidiaries and the continued evaluation of potential acquisition with the goal of creating a consortium of businesses that will cover all aspects of the UAV industry.  

  

On behalf of the Board,

“Jason Springett”

Jason Springett

President & CEO

  

For additional information on Alta Vista Ventures please contact the Company at 604-678-2531

 

Neither Canadian Securities Exchange (CSE) nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

 

Statements in this press release, other than purely historical information, including statements relating to the Company’s future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.

 

Alta Vista Ventures Ltd.

459 – 409 Granville St., Vancouver, BC, Canada  V6C 1T2  telephone: 604-678-2531  facsimile: 604-678-2532