HALIFAX, Aug. 24, 2017 /CNW/ - Duckworth Capital Corp., a
capital pool company, is pleased to announce that it has completed
its initial public offering of 4,000,000 common shares at a price
of $0.10 per common share for gross
proceeds to the Company of $400,000.
Haywood Securities Inc. acted as agent in respect of the offering
and was paid a cash commission equal to 10% of gross proceeds, and
was granted non-transferable warrants to purchase 10% of the number
of common shares sold pursuant to the Offering. The Agent's
warrants are exercisable for a period of 24 months at an exercise
price of $0.10 per common share. The
offering was made by prospectus dated July
28, 2017, a copy of which may be obtained on SEDAR at
www.sedar.com.
The Company's common shares have been conditionally approved for
listing on the TSX Venture Exchange. The Company expects its common
shares will commence trading on the Exchange today under the symbol
'DUKE.P'.
The net proceeds of the offering will be used to identify and
evaluate assets or businesses for acquisition with a view to
completing a "Qualifying Transaction" under the Capital Pool
Company Program of the Exchange as disclosed in the Company's
prospectus dated July 28, 2017.
CAUTIONARY STATEMENT:
Certain information in this press release may contain
forward-looking statements, such as statements regarding future
plans and objectives. This information is based on current
expectations that are subject to significant risks and
uncertainties that are difficult to predict. Actual results might
differ materially from results suggested in any forward-looking
statements. The Company assumes no obligation to update the
forward-looking statements, or to update the reasons why actual
results could differ from those reflected in the forward looking
statements unless and until required by securities laws applicable
to the Company. Additional information identifying risks and
uncertainties is contained in the Company's filings with the
Canadian securities regulators, which filings are available at
www.sedar.com.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the
TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
SOURCE Duckworth Capital Corp.