/NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA/
Trading Symbol: TSXV:CQC.P
VANCOUVER, March 25, 2013 /CNW/ - Carolina Capital Corp. ("Company")
(TSX Venture: CQC.P) is pleased to announce the completion of its
qualifying transaction with arm's length vendors (the "Vendors")
Qualitas Holdings Corp. ("Qualitas") and Mike Magrum (as to 50% each).
The Company has been granted an option to acquire a 100% interest in
the Vendors' GP Project by incurring exploration expenditures totaling
$100,000 over two years. Additionally, Carolina must make cash payments
to the Vendors totaling $25,000 and issue 700,000 shares (200,000 first
year) over the two year option term.
Please refer to the Filing Statement for further information about the
Company and Qualitas and for further details respecting the qualifying
transaction. A copy of the Filing Statement is available on SEDAR at www.sedar.com under the Company's profile.
Mr. R. Tim Henneberry, P. Geo., has been added to the board of
directors, which now consists of:
Mr. Donn Burchill
Mr. Stephen Hanson
Mr. R. Tim Henneberry
Ms. Suzanne Wood
Mr. Stephen Hanson is the Company's Chief Executive Officer and Ms.
Suzanne Wood is the Company's President, Chief Financial Officer and
The Company also announces the concurrent completion of a non-brokered
private placement (the "Offering"). The Company issued an aggregate of
4,950,000 units (the "Units") at a price of $0.10 per Unit for gross
proceeds of $495,000.00. Each Unit consists of one common share and
one-half (1/2) of one share purchase warrant, with each whole warrant
entitling the holder to purchase one additional common share at a price
of $0.15 for two years from closing of the Offering.
All securities issued with respect to the Offering are subject to a hold
period expiring July 22, 2013.
The proceeds of the private placement will be used to pay the balance of
costs to complete the qualifying transaction, to make option payments
to the Vendors, and to finance the Company's exploration program on the
As a result, effective at market open on Tuesday, March 26, 2013, the
Company expects to resume trading under the trading symbol "CQC" and,
accordingly, the Company will no longer be a capital pool company
within the meaning of TSX Venture Exchange Policy 2.4.
ON BEHALF OF THE BOARD OF DIRECTORS
Neither the TSX Venture Exchange Inc. 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
SOURCE: Carolina Capital Corp.
For further information:
Suzanne Wood, Tel: (604) 687-6991 ext. 12. Fax: (604) 688-2687.