/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES./
TSX VENTURE EXCHANGE: WXX.P
TORONTO, Oct. 17, 2013 /CNW/ - WB III Acquisition Corp. ("WB III")
(TSXV: WXX.P) is pleased to announce that it has completed its initial public offering
as a capital pool company ("CPC").
On October 17, 2013, WB III completed an initial public offering of
5,000,000 common shares at a price of $0.10 per share for gross
proceeds to WB III of $500,000 to purchasers in Alberta, British
Columbia and Ontario. Macquarie Private Wealth Inc. acted as agent in
respect of the offering and received a cash commission, as well as an
option to acquire 10% of the aggregate number of shares sold pursuant
to the offering for a period of 24 months from the date of listing of
the common shares on the TSX Venture Exchange (the "Exchange") at an
exercise price of $0.10 per common share.
WB III has filed the requisite post-closing documentation with the
Exchange in order to obtain final approval of the listing of the common
The directors and officers of WB III are Ronald D. Schmeichel, Jordan
Kupinsky and Kevin Taylor. Detailed information regarding each
director is contained within the final prospectus dated August 12,
2013, which is available to the public at www.sedar.com. In connection with the closing, an aggregate of 1,500,000 stock
options were granted to Ronald D. Schmeichel, Jordan Kupinsky and Kevin
Not for distribution to United States newswire services or for
dissemination in the United States. These securities have not been and
will not be registered under the United States Securities Act of 1933,
as amended, or the securities laws of any state, and may not be offered
or sold in the United States unless an exemption from registration is
available. This press release does not constitute an offer to sell or
the solicitation of any offer to buy these securities in the United
Investors are cautioned that trading in the securities of a CPC should
be considered highly speculative.
WB III is a CPC governed by the policies of the Exchange. WB III's
principal business is the identification and evaluation of assets or
businesses with a view to completing a Qualifying Transaction.
Neither 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.
Notice on Forward-Looking Information
Information set forth in this news release contains forward-looking
statements. These statements reflect management's current estimates,
beliefs, intentions and expectations; they are not guarantees of future
performance. WB III cautions that all forward looking statements are
inherently uncertain and that actual performance may be affected by a
number of material factors, many of which are beyond WB III's control.
Such factors include, among other things: risks and uncertainties
relating to WB III's expectation to list its common shares on the
TSX-V, its ability to identify, evaluate and complete a Qualifying
Transaction and other risks and uncertainties, including those
described in WB III's final prospectus dated August 12, 2013 filed with
the Canadian Securities Administrators and available on www.sedar.com.
Accordingly, actual and future events, conditions and results may
differ materially from the estimates, beliefs, intentions and
expectations expressed or implied in the forward looking information.
Except as required under applicable securities legislation, WB III
undertakes no obligation to publicly update or revise forward-looking
SOURCE: WB III Acquisition Corp.
For further information:
For further information please contact Ronald D. Schmeichel, CEO of WB III at (416) 972-9993.