TORONTO, June 11 /CNW/ - Corbal Capital Corp. ("Corbal Capital") (TSXV:
PBL), a capital pool company, announces that it has successfully completed a
non-brokered private placement offering comprised of 590,000 common shares at
a price of $0.20 per share for aggregate gross proceeds to Corbal Capital of
$118,000. All common shares issued pursuant to the offering are subject to a
four-month hold period.
The net proceeds of the offering will be used to provide Corbal Capital
with funds with which to identify and evaluate assets or businesses for
acquisition with a view to completing a "Qualifying Transaction" under the
capital pool company program of the TSX Venture Exchange.
Including the issuance of shares detailed in this news release, there are
currently 6,814,000 common shares issued and outstanding.
In connection with the offering, Corbal Capital has agreed to pay First
Republic Capital Corp. a cash commission of $11,800 (10% of the offering).
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this press release.
For further information:
For further information: Mr. John Sickinger, Chief Executive Officer,
Corbal Capital Corp., Tel: (705) 869-1234, Fax: (705) 706-2662