TG Residential Value Properties Ltd. Announces Successful Completion of Private Placement
/NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH UNITED STATES NEWSWIRES/
TSX VENTURE : TGP.H
VANCOUVER, April 4, 2014 /CNW/ - TG Residential Value Properties ("the Company") (TSX VENTURE:TGP.H) is pleased to announce the successful completion of its non-brokered private placement ("Private Placement") of Class "A" Common Shares ("Shares") of the Company for aggregate gross proceeds equal to $230,000. The shares were priced at $0.11. Certain parties received finder's fees in connection with the Private Placement in the amount of $11,500 in cash.
The Shares issued pursuant to the Private Placement are subject to a four month hold period in Canada.
About TG Residential
TG Residential Value Properties Ltd. Is a Capital Pool Company that intends to seek opportunities to acquire multifamily residential property in North America, specifically in Winnipeg and the Dallas Fort Worth area of Texas. The Company announced a Qualifying Transaction on February 1, 2013 but had not completed the transaction as of February 27, 2014 and as a result it sought a listing on the NEX.
The Company's investment approach will be to grow through the acquisition undervalued properties in areas of potential population and job growth. Potential acquisition targets may be in private or public companies in a variety of markets, thereby allowing for diversification. Acquisition of all or a majority of the ownership of each such property is preferred. Value will be created by seeking out properties where higher revenues can be achieved through physical upgrades and re-positioning in the surrounding marketplace.
Note Regarding Forward Looking Information
Certain information in this news release constitutes forward-looking information under applicable securities law. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking information. Forward-looking information is often identified by terms such as "may", "should", "anticipate", "expect", "intend" and similar expressions. Forward-looking information in this news release include, but are not limited to, information with respect to the completion Company's business strategy and related transactions. Forward-looking information necessarily involve known and unknown risks, including, without limitation, risks that required regulatory approval are not obtained on terms satisfactory to the parties and required conditions are not met; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; industry and government regulation; changes in legislation, income tax and regulatory matters; the ability of the Company to implement its proposed corporate strategy; competition; currency and interest rate fluctuations; and other risks. Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. The forward-looking information in this news release is based on certain key expectations and assumptions made by the Company, including expectations and assumptions concerning its business strategy and the satisfaction of other conditions to the completion of any related transactions. Forward-looking information contained in this news release is expressly qualified by this cautionary statement.
The forward-looking statements contained in this press release are made as of the date hereof and TG Residential Value Properties Ltd. undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. 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 release.
SOURCE TG Residential Value Properties Ltd.For further information:
TG Residential Value Properties
Douglas Thiessen, CEO