Black Birch Capital Acquisition III Corp. announces engagement of agent in respect of financing concurrent with qualifying transaction

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TORONTO, Dec. 19, 2013 /CNW/ - Black Birch Capital Acquisition III Corp. (TSXV: BBC.P) ("Black Birch" or the "Company") is pleased to announce that it and Daymak Inc. ("Daymak") have engaged a syndicate of agents led by Richardson GMP Limited, and including Jacob Securities Inc. (the "Agents"), to act as agents in relation to a financing (the "QT Financing") to be conducted concurrent with Black Birch's proposed qualifying transaction with Daymak (the "Qualifying Transaction").

The QT Financing will be conducted on a best efforts basis by means of a prospectus offering for a minimum of 7,500,000 units of Black Birch (each a "Unit") and a maximum of 12,500,000 Units at an anticipated price of $0.40 per Unit for minimum aggregate gross proceeds of $3,000,000 and maximum aggregate gross proceeds of $5,000,000. Each Unit will consist of one common share of Black Birch (each a "Common Share") and one half of one Common Share purchase warrant. Each whole warrant will be exercisable for one Common Share for a period of 24 months from the closing of the QT Financing at an exercise price of $0.50 per Common Share.

The QT Financing is a condition precedent to the completion of the Qualifying Transaction and is expected to be completed immediately prior to the completion of the Qualifying Transaction.

For further details regarding the Qualifying Transaction please refer to the Company's press release dated August 8, 2013, a copy of which is available on the Company's SEDAR profile at www.sedar.com.

Neither 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.

This press release contains forward-looking statements based on assumptions, uncertainties and management's best estimates of future events. Actual results may differ materially from those currently anticipated. Investors are cautioned that such forward-looking statements involve risks and uncertainties. Important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements are detailed from time to time in the Corporation's periodic reports filed with the Ontario Securities Commission and other regulatory authorities. The Corporation has no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful.  The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

SOURCE: Black Birch Capital Acquisition III Corp.

For further information:

For further information regarding the Qualifying Transaction, please contact:

Black Birch Capital Acquisition III Corp.

Paul Haber, Chief Executive Officer, Chief Financial Officer and Corporate Secretary
Telephone: 416-318-6501
Facsimile: 416-915-4265
Email: phaber@blackbirchcap.com

Daymak Inc.

Aldo Baiocchi, Vice President
Telephone: 416-658-3993 ext. 201
Facsimile: 416-749-3424
Email: aldob@daymak.com

Profil de l'entreprise

Black Birch Capital Acquisition III Corp.

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