trading to commence on February 2, 2011
/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S.
NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES
TORONTO, Jan. 31 /CNW/ - Mercury Capital Limited ("Mercury Capital") (MLC.P:TSXV), a capital pool company, is pleased to announces that it
completed its initial public offering by issuing 1,599,750 common
shares at a price of $0.20 per share, for gross proceeds of $319,950.
The common shares of Mercury Capital will be listed and posted for
trading on the TSX Venture Exchange (the "Exchange") under the trading symbol "MLC.P" at the opening of the market on
February 2, 2011.
The net proceeds of the offering will be used to provide Mercury 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 Exchange.
Hampton Securities Limited acted as lead agent for the initial public
offering. In connection with the offering, Mercury Capital granted
Hampton Securities Limited, and its sub-agents, options to acquire
159,975 common shares at a price of $0.20 per share. The option may be
exercised for a period of 24 months from the date of listing of the
common shares on the Exchange.
At the closing of the initial public offering, Mercury Capital also
granted incentive stock options to its four officers and directors to
acquire a total of 259,975 common shares. The options may be exercised
for a period of ten years at a price of $0.20 per share.
At the closing of the offering, there were 2,599,750 common shares
issued and outstanding in the capital of Mercury Capital, of which
1,000,000 have been issued at $0.10 per share prior to the offering.
These shares have been placed in escrow in accordance with the policies
of the Exchange.
The information in this news release includes certain information and
statements about management's view of future events, expectations,
plans and prospects that constitute forward looking statements. These
statements are based upon assumptions that are subject to significant
risks and uncertainties. Because of these risks and uncertainties and
as a result of a variety of factors, the actual results, expectations,
achievements or performance may differ materially from those
anticipated and indicated by these forward looking statements. Although
Mercury Capital believes that the expectations reflected in forward
looking statements are reasonable, it can give no assurances that the
expectations of any forward looking statements will prove to be
correct. Except as required by law, Mercury Capital disclaims any
intention and assumes no obligation to update or revise any forward
looking statements to reflect actual results, whether as a result of
new information, future events, changes in assumptions, changes in
factors affecting such forward looking statements or otherwise.
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.
This press release does not constitute and the subject matter hereof is
not, an offer for sale or a solicitation of an offer to buy, in the
United States or to any "U.S Person" (as such term is defined in
Regulation S under the U.S. Securities Act of 1933, as amended (the
"1933 Act")) of any equity or other securities of Mercury Capital. The
securities of Mercury Capital have not been registered under the 1933
Act and may not be offered or sold in the United States (or to a U.S.
Person) absent registration under the 1933 Act or an applicable
exemption from the registration requirements of the 1933 Act.
SOURCE Mercury Capital Limited
For further information:
Alexander C. Logie
Chief Executive Officer
Mercury Capital Limited