/EINPresswire.com/ -- OAKVILLE, ONTARIO--(Marketwired - Sep 1, 2017) - Canoe Mining Ventures Corp. (TSX VENTURE:CLV) ("Canoe" or the "Company") announces that it is finalizing a non-brokered private placement of up to 20,000,000 common shares at a price of $0.05 per common share for total gross proceeds of up to $1,000,000 (the "Private Placement").

Management, directors, and insiders of Canoe intend on participating in the Private Placement, the net proceeds of which are to be used for general working capital purposes. The Company has received the conditional approval from the TSX Venture Exchange for the Private Placement, and the Private Placement is expected to close on or about Friday September 8, 2017.

The Company has received subscriptions in excess of 20,000,000 common shares and may seek to accept a total of up to 23,000,000 common shares subject to TSX Venture Exchange approval. If accepted, total gross proceeds would be up to $1,150,000.

Additional information and corporate documents may be found on www.sedar.com and on the Canoe website: www.canoemining.ca

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

On behalf of the Board of Directors of Canoe Mining Ventures Corp.

Duane Parnham, President and CEO

Forward-Looking Statements

This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release or other future plans, objectives or expectations of Canoe are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Canoe expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.