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