Home Ventures in private placement

Vancouver-based junior Home Ventures (VSE) has agreed to a private placement of one million units at 25 cents per unit to raise $250,000.

Each unit consists of one Home Venture common share and one non-transferable share purchase warrant. The purchase warrant is valid for one year and can be exchanged for an additional share at a cost of 25 cents. Proceeds will fund additional drilling at the McGarry joint-venture gold property, northeast of Larder Lake, Ont. McGarry, two miles east of the Kerr Addison mine, covers about 4,000 ft. of strike length along the Larder Lake Break.

Previous drilling by Home Ventures returned values up to 0.07 oz. gold per ton over 38.5 ft., which included 0.125 oz. gold over 10 ft. Regulators must approve the placement.