June 2, 2020 – Zadar Ventures Ltd. (“Zadar” or the “Company”) is pleased to announce that, further to its press release dated May 11, 2020, the Company has closed its non-brokered private placement (the “Private Placement”) of 3,000,000 units (each, a “Unit”) of the Company, for gross proceeds of $450,000. Each Unit consists of one (1) common share of the Company (a “Share”) and one transferable common share purchase warrant (a “Warrant”). Each Warrant entitles the holder to acquire one (1) Share at a price of $0.30 per Share for a period of eighteen (18) months from the date of issue.
All securities issued pursuant to the Private Placement are subject to a four-month hold period.
The Company intends to use the proceeds from the Private Placement for general working capital purposes.