DevCorp Capital Inc. Announces Closing of Initial Public Offering
2011年11月8日 - 7:49AM
Marketwired
This news release does not constitute an offer to sell or a
solicitation of any offer to buy the common shares in the United
States. The common shares have not been and will not be registered
under the U.S. Securities Act of 1933 and may not be offered or
sold in the United States absent registration or an applicable
exemption for the registration requirements of such Act.
DevCorp Capital Inc. ("DevCorp" or the "Corporation") (TSX
VENTURE:DCC.P) is pleased to announce that it has successfully
completed its initial public offering ("Offering") raising gross
proceeds of $300,000 pursuant to a prospectus dated August 24,
2011. An aggregate of 3,000,000 common shares in the capital of the
Corporation (the "Shares") were subscribed for at a price of $0.10
per Share. The Corporation has received listing approval from the
TSX Venture Exchange (the "Exchange") for its Shares and the
trading commenced on November 7, 2011 under the stock symbol DCC.P.
The trading of the Shares was immediately halted upon listing
pending closing of the Offering. The Corporation expects the
trading to resume on November 8, 2011.
Macquarie Private Wealth Inc. (the "Agent") acted as the agent
for the Offering. The Agent received a cash commission equal to 10%
of the gross proceeds of the Offering and an option to purchase
300,000 Shares at a price of $0.10 per Share for a period of 24
months from the date of listing of the Shares on the Exchange. The
Agent also received a corporate finance fee.
Upon closing of the Offering, DevCorp granted 360,000 incentive
stock options to its directors and officers which are exercisable
within five years from the date of the grant at an exercise price
of $0.10 per Share. As a result of the closing of its initial
public offering, DevCorp now has 6,600,000 Shares issued and
outstanding (3,600,000 of which are subject to escrow
restrictions).
About the Corporation
DevCorp is a capital pool company ("CPC") within the meaning of
the policies of the Exchange that has not commenced commercial
operations and has no assets other than cash. The board of
directors of DevCorp consists of Sidney Dutchak, Michael Kohut,
James Riddell, Robert Jepson, Greg Fisher, Sean Monaghan and
Gregory Peterson. The officers of the Corporation are Sidney
Dutchak and Frank Sur. Except as specifically contemplated in the
Exchange CPC policy, until the completion of its Qualifying
Transaction, the Corporation will not carry on business, other than
the identification and evaluation of companies, business or assets
with a view to completing a proposed Qualifying Transaction.
Forward Looking Information
This news release contains statements about DevCorp's
expectations regarding the completion of the application for
listing and the commencement of trading on the Exchange that are
forward-looking in nature and, as a result, are subject to certain
risks and uncertainties, such as final listing approval from the
Exchange. Although DevCorp believes that the expectations reflected
in these forward-looking statements are reasonable as DevCorp
assumes it will be able to fulfill the terms of the conditional
listing approval granted by the Exchange, undue reliance should not
be placed on them as actual results may differ materially from the
forward-looking statements. Factors that could cause the actual
results to differ materially from those in forward-looking
statements include failure to fulfill conditions of listing and
inability to obtain required regulatory approvals. The
forward-looking statements contained in this news release are made
as of the date hereof, and DevCorp undertakes no obligation to
update publicly or revise any forward-looking statements or
information, except as required by law.
Neither 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.
Contacts: DevCorp Capital Inc. Gregory Peterson Director (403)
292-9812 (403) 695-3522 (FAX) DevCorp Capital Inc. (403) 695-3522
President, Chief Executive Officer and Chief Financial Officer
(403) 630-2157
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