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VANCOUVER, Feb. 13, 2019 /CNW/ - Perihelion Capital Ltd.
("Perihelion" or the "Corporation") is pleased to
announce that it has successfully completed its initial public
offering of 3,014,000 common shares of the Corporation at a price
of $0.10 per share for aggregate
gross proceeds of $301,400
("Offering") pursuant to a prospectus dated December 21, 2018. Mackie Research Capital
Corporation (the "Agent") acted as the agent for the
Offering and received a cash commission equal to 10% of the gross
proceeds of the Offering. In addition, Perihelion granted the Agent
and its sub-agent an option to purchase up to 301,400 common shares
at a price of $0.10 per share for a
period of 24 months from the date of listing of the common shares
on the TSX Venture Exchange (the "TSXV"). The Agent also
received a corporate finance fee of $12,500, plus taxes.
The Corporation now has 5,114,000 common shares issued and
outstanding, 2,120,000 of which are held by directors and officers
of Perihelion and are subject to escrow restrictions in accordance
with the policies of the TSXV.
The common shares have been listed on the TSXV and were
subsequently halted pending delivery of certain documents in
connection with the closing of the Offering and are expected to
begin trading under the trading symbol PCL.P at the opening of
markets on February 14, 2019.
The net proceeds of the Offering will be used by the Corporation
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 TSXV.
About Perihelion Capital Ltd.
Perihelion is a Capital Pool Company within the meaning of the
policies of the TSXV that has not commenced commercial operations
and has no assets other than cash. The board of directors of the
Corporation consists of Alexandros
Tzilios, Darius Eghdami,
Duncan McIntyre, and Shafin Tejani. The officers of the Corporation
are Alexandros Tzilios (President
and CEO), Darius Eghdami (CFO), and
Duncan McIntyre (Corporate
Secretary). Except as specifically contemplated by the policies of
the TSXV, 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.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE
PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX
VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE.
SOURCE Perihelion Capital Ltd.