/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES/
KELOWNA, BC, Oct. 3, 2013 /CNW/ - TrinCan Capital Corp. ("TrinCan" or the "Corporation") (TRN:TSX-V) announces completion of closing of the final tranche of
its previously announced private placement (the "Private Placement") of up to 8,500,000 units of the Corporation ("Units") at a price of $0.05 per Unit for aggregate gross proceeds of up to
$425,000. In aggregate, TrinCan closed on subscriptions for 8,500,000
Units for aggregate gross proceeds of $425,000 (net proceeds of
$387,500 after payment of various finder's fees of $37,500).
Each Unit consists of one common share of the Corporation (a "Common Share") and one-half of one Common Share purchase warrant (each whole such
warrant, a "Warrant"). The Warrant will not be listed. Each whole Warrant shall be
exercisable for one Common Share at a price of $0.10 per Common Share
for a period to and including August 30, 2014. All securities in the
Private Placement will be subject to a four month hold period from the
closing of the Private Placement.
The proceeds of the Private Placement will be used for general working
capital purposes. The Units were issued to purchasers pursuant to
exemptions from the prospectus requirements of applicable securities
legislation and will be subject to resale restrictions, as required
under the applicable securities legislation. 4,250,000 Common Shares
are reserved for issuance on exercise of the Warrants issued under the
Private Placement. After giving effect to the completed Private
Placement, TrinCan has 17,469,000 Common Shares outstanding.
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.
No stock exchange, securities commission or other regulatory authority
has approved nor disapproved the information contained herein.
This news release contains forward-looking statements relating to the
issuance of securities and the use of proceeds from the Private
Placement and other statements that are not historical facts.
Forward-looking statements are often identified by terms such as
"will", "should", "anticipate", "expects" and similar expressions. All
statements other than statements of historical fact, included in this
release, including, without limitation, statements regarding the
issuance of securities, the use of proceeds from the Private Placement,
and future plans and objectives of the Company, are forward looking
statements that involve risks and uncertainties. There can be no
assurance that such statements will prove to be accurate and actual
results and future events could differ materially from those
anticipated in such statements. Important factors could cause actual
results to differ materially from the Company's expectations and are
detailed from time to time in the filings made by the Company with
The reader is cautioned that assumptions used in the preparation of any
forward-looking information may prove to be incorrect. Events or
circumstances may cause actual results to differ materially from those
predicted, as a result of numerous known and unknown risks,
uncertainties, and other factors, many of which are beyond the control
of TrinCan. As a result, TrinCan cannot guarantee that any
forward-looking statement will materialize and the reader is cautioned
not to place undue reliance on any forward-looking information. 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. Forward-looking statements
contained in this news release are expressly qualified by this
cautionary statement. The forward-looking statements contained in this
news release are made as of the date of this news release, and TrinCan
does not undertake any obligation to update publicly or to revise any
of the included forward-looking statements, whether as a result of new
information, future events or otherwise, except as expressly required
by Canadian securities law.
SOURCE: TrinCan Capital Corp.
For further information:
TrinCan Capital Corp.
Phone: (250) 860-4604