Knowlton Capital raises $335,000 at first closing of private placement
MONTREAL, April 8, 2014 /CNW Telbec/ - Knowlton Capital Inc. (TSXV: KWC.H) announces that it has raised gross proceeds of $335,000 at a first closing of its previously-announced private placement by issuing 6,700,000 units at a price of $0.05 per unit. Knowlton Capital issued the securities to "accredited investors" in Ontario, Québec, China, Monaco and Switzerland. Knowlton Capital will use the proceeds from the issuance of the units for working capital purposes.
Each of the 6,700,000 units is comprised of one common share and one common share purchase warrant. Each warrant entitles its holder to acquire one additional common share of Knowlton Capital at a price of $0.05 for twelve months from the date of issuance.
The securities issued by Knowlton Capital at the first closing of the private placement are subject to a four-month "hold period" under applicable securities legislation and the policies of the TSX Venture Exchange.
Following the first closing of the private placement, there are 33,375,500 common shares of Knowlton Capital issued and outstanding. Additional closings of the private placement may be held until April 30, 2014.
Neither the 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.
This release is intended for distribution in Canada only and is not intended for distribution to United States newswire services or for dissemination in the United States
SOURCE Knowlton Capital Inc.For further information: Rafi Hazan, Chief Financial Officer, (514) 788-1499 x 202