Triple Crown Petroleum Ltd. Announces Closing of Initial Public Offering

CALGARY, Sept. 27, 2011 /CNW/ - Triple Crown Petroleum Ltd. ("Triple Crown") (TSX Venture: TPP.P) announces it has completed its initial public offering ("Offering") raising gross process of $280,000 pursuant to a capital pool company prospectus dated August 17, 2011. A total of 1,400,000 common shares in the capital of Triple Crown (the "Shares") were issued at a price of $0.20 per Share. Macquarie Private Wealth Inc. ("Macquarie") acted as the agent for the Offering. Macquarie received a corporate finance fee and a cash commission equal to 10% of the gross proceeds of the Offering. In addition Macquarie was issued an option to purchase 140,000 Shares at a price of $0.20 for a period of two years from the date the Shares are listed on the TSX Venture Exchange.

Triple Crown now has 3,000,000 Shares outstanding, with the directors and officers of Triple Crown holding, in aggregate, 1,000,000 Shares.

The Shares of Triple Crown have been approved for listing on the TSX Venture Exchange and are expected to begin trading today under the stock symbol TPP.P.

About Triple Crown

Triple Crown is a capital pool company ("CPC") that has not commenced commercial operations and has no assets other than cash and deferred financing costs. Except as specifically contemplated in the CPC policies of the TSX Venture Exchange, until the completion of the qualifying transaction, Triple Crown will not carry on business, other than the identification and evaluation of companies, business or assets with a view to completing a proposed 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 news release.

A Note regarding Forward Looking Information

This press release contains forward-looking statements (collectively "forward-looking information") within the meaning of applicable securities laws regarding the anticipated listing date of the Shares on the TSX Venture Exchange.

The forward-looking information is based on certain key expectations and assumptions made by Triple Crown's management, including obtaining all necessary approvals of the TSX Venture Exchange. Although Triple Crown believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Triple Crown can give no assurance that they will prove to be correct.

These forward-looking statements are made as of the date of this press release and Triple Crown disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

SOURCE Triple Crown Petroleum Ltd.

For further information:

William Ambrose
President, Chief Executive Officer and Director
Triple Crown Petroleum Ltd.
Telephone: (403) 453-2266

Profil de l'entreprise

Triple Crown Petroleum Ltd.

Renseignements sur cet organisme


FORFAITS PERSONNALISÉS

Jetez un coup d’œil sur nos forfaits personnalisés ou créez le vôtre selon vos besoins de communication particuliers.

Commencez dès aujourd'hui .

ADHÉSION À CNW

Remplissez un formulaire d'adhésion à CNW ou communiquez avec nous au 1-877-269-7890.

RENSEIGNEZ-VOUS SUR LES SERVICES DE CNW

Demandez plus d'informations sur les produits et services de CNW ou communiquez avec nous au 1‑877-269-7890.