Mammoth Capital Corporation Completes Initial Public Offering as a Capital Pool Company
March 31 2008 - 9:00AM
Marketwired
VANCOUVER, BRITISH COLUMBIA (TSX VENTURE: XXL.P), a capital pool
company, is pleased to announce that on March 25, 2008, it
successfully completed its initial public offering (the "IPO") of
3,500,000 common shares in the capital of the Company at a price of
$0.10 per common share for gross proceeds of $350,000 (the
"Proceeds").
Leede Financial Markets Inc. acted as agent (the "Agent") for
the IPO. The Company has paid the Agent a cash commission of
$28,000 equal to 8% of the Proceeds and granted a non-transferable
option (the "Agent's Option") to purchase 350,000 common shares of
the Company equal to 10% of the number of common shares sold
through the IPO. The Agent's Option is exercisable for a period of
24 months at a price of $0.10 per common share.
The Company is a capital pool company ("CPC") within the meaning
of the policies of the TSX Venture Exchange (the "Exchange"). The
Company has not commenced operations and has no assets other than
cash.
The Company will use the net proceeds of the IPO to identify and
evaluate potential Qualifying Transactions under the CPC polices of
the Exchange.
The Company expects its common shares will begin trading on the
Exchange on Monday March 31, 2008 under the trading symbol
"XXL.P".
On behalf of the board of directors of MAMMOTH CAPITAL
CORPORATION
Brad Kitchen, Secretary
The TSX Venture Exchange has not reviewed this news release and
does not accept responsibility for the accuracy or adequacy of this
release.
Contacts: Mammoth Capital Corporation Mike Marrandino (604)
606-7991 (604) 606-7980 (FAX)
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