Black Birch Capital Acquisition III Corp. completes initial public offering

/NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWS WIRES/

TORONTO, July 10, 2013 /CNW/ - Black Birch Capital Acquisition III Corp. ("Black Birch" or the "Company"), a capital pool company, is pleased to announce that it has closed its initial public offering of 3,109,850 common shares (the "Offering") at $0.10 per share for aggregate gross proceeds of $310,985.  Macquarie Private Wealth Inc. ("Macquarie") acted as agent for the Offering and received a cash commission of 10% of the gross proceeds of the Offering and was also paid a Corporate Finance Fee of $15,000 plus applicable taxes of $1,800. In addition, the Company has granted Macquarie and other members of its selling group options to acquire an aggregate of 310,985 common shares of the Company at a per share price of $0.10 exercisable for a period of 24 months from the date the Company's common shares are listed on the TSX Venture Exchange (the "Exchange").

Upon closing of the Offering, Black Birch also granted incentive stock options to purchase 310,985 common shares to its directors, which are exercisable for a period of five years at an exercise price of $0.10 per share.  Following completion of its initial public offering, Black Birch has 2,160,000 common shares issued and outstanding, which are subject to escrow restrictions in accordance with the policies of the Exchange.

The Exchange has conditionally approved the listing of the common shares of the Company. Subject to fulfilling final listing requirements, the Company expects that its common shares will commence trading on the Exchange on or about Tuesday, July 16, 2013 under the symbol "BBC.P".

The Company would like to thank Macquarie for the role that it played in the distribution of the initial public offering of the Company.

About Black Birch Capital Acquisition III Corp.

The business of Black Birch is the identification and evaluation of assets or businesses with a view to completing a "Qualifying Transaction" in accordance with Exchange Policy 2.4 - Capital Pool Companies.  The funds raised under the Offering will be used to pursue such Qualifying Transaction.

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: Black Birch Capital Acquisition III Corp.

For further information:

For further information, please contact Paul Haber, Chief Executive Officer, Chief Financial Officer and Corporate Secretary of the Company, at:

Telephone: 416-318-6501
Facsimile: 416-915-4265

Profil de l'entreprise

Black Birch Capital Acquisition III Corp.

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