CALGARY, Jan. 5 /CNW/ - WindFire Capital Corp. (the "Company" or
"WindFire") is pleased to report that it has successfully completed its
initial public offering by selling 1,773,500 common shares at a price of $0.20
per share for total gross proceeds of $354,700 pursuant to a prospectus dated
November 11, 2008 (the "Offering"). Research Capital Corporation ("Research")
acted as the agent for the Offering. Research received a cash commission of
10% of the gross proceeds of the Offering and the Company also granted agent's
options to Research to purchase up to an aggregate of 177,350 common shares at
a price of $0.20 per share (the "Agent's Options"). The Agent's Options are
exercisable for a period of 24 months from the date the Company's common
shares are listed on the TSX Venture Exchange (the "Exchange").
The Company's common shares have been conditionally approved for listing
on the Exchange under the trading symbol WIF and further information will be
provided regarding the date on which the Company expects that the common
shares will commence trading when available.
ABOUT WINDFIRE CAPITAL CORP.
The Company is a capital pool company ("CPC") within the meaning of the
policies of the Exchange. The Company has not commenced operations and has no
assets other than cash. The Company proposes to identify and evaluate
businesses and assets with a view to completing a "Qualifying Transaction"
under the Exchange's CPC policies. The funds raised under the initial public
offering will be used to pursue the Company's Qualifying Transaction.
The TSX Venture Exchange does not accept responsibility for the accuracy
or adequacy of this release.
For further information:
For further information: Gerrit Langejans, President and Chief Executive
Officer at: 16, 2235 - 30th Avenue NE, Calgary, Alberta, T2E 7C7, Telephone:
(403) 735-0770, Fax: (403) 735-0771