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Pathfinder Ventures Announces Closing of Parksville Refinancing and Extension of Private Placement
Accessnewswire· 2026-03-11 21:55
Core Insights - Pathfinder Ventures has successfully completed the refinancing of its Parksville RV Resort property, enhancing its financial flexibility and removing previous restrictive covenants [1] - The company is extending its non-brokered private placement of up to $2,000,000 for an additional 30 days, with an initial tranche expected to close within approximately 10 business days [1] Refinancing Details - The refinancing replaces a prior mortgage that included lender approval rights over corporate indebtedness and rights of first refusal over company assets, thus providing greater strategic flexibility for acquisitions and development [1] - The company believes this refinancing strengthens its financial position and supports ongoing initiatives in RV resort development and modular housing communities [1] Private Placement Information - The private placement consists of up to 40,000,000 common shares priced at $0.05 per share, aiming for gross proceeds of up to $2,000,000 [1] - Each share will be issued with one-half of a non-transferable common share purchase warrant, with each whole warrant exercisable at $0.10 for a period of 36 months from issuance [1] - The net proceeds from the private placement will be used for general working capital, continued development of the RV resort portfolio, and acquisition opportunities including modular housing communities [1]