TORONTO, Feb. 14, 2018 /CNW/ - AIM2 Ventures Inc. (TSXV: AIMV.P) (the "Corporation" or "AIM2"), is pleased to announce that it has completed its initial public offering (the "Offering") today of 5,000,000 common shares in the capital of the Corporation ("Common Shares") at a purchase price of $0.10 per Common Share by way of a prospectus for gross proceeds of $500,000.
"The successful completion of our IPO represents an important step in AIM2's ability to deliver superior shareholder returns" commented Zyshan Kaba, CEO of AIM2. "With a team of dedicated and disciplined industry professionals, AIM2 looks forward to working with, and investing in companies looking to go public."
The Corporation is a Capital Pool Company as defined in the policies of the TSX Venture Exchange (the "Exchange"). To date, the Corporation has not conducted operations of any kind and has not entered into an "Agreement in Principle", as such phrase is defined in Exchange Policy 2.4 – Capital Pool Companies.
When combined with the Corporation's cash proceeds raised prior to the Offering ($360,000 in seed financing as more fully described in the Corporation's prospectus dated January 17, 2018), the Corporation has raised total gross proceeds of $860,000 and has a total of 9,600,000 Common Shares issued and outstanding, of which 2,700,000 Common Shares are being held in escrow. The net proceeds will be used to identify and evaluate assets of businesses for acquisition with a view to completing a "Qualifying Transaction" under the Capital Pool Company program of the Exchange.
Haywood Securities Inc. (the "Agent") acted as agent in connection with the Offering. For its services, the Agent received an administrative fee, a cash commission equal to 10% of the gross proceeds of the Offering as well as options to purchase up to 500,000 Common Shares at an exercise price of $0.10 per Common Share, exercisable within twenty-four months from the listing of the Common Shares on the Exchange.
In addition, the Corporation granted an aggregate of 500,000 stock options to its directors and officers at an exercise price of $0.10 per share for a period of five years from the date of grant.
The Common Shares were admitted for trading on the Exchange under the trading symbol "AIMV.P". The trading symbol for the Common Shares will be amended to "AIMB.P".
Demonstrating its forward-thinking commitment to cutting-edge technologies in every instance, the Corporation was one of the first public companies to use the proprietary DealMakerTM software in its seed financing round.
Dentons Canada LLP acted as legal counsel to the Corporation and Peterson McVicar LLP acted as counsel to the Agent.
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 release.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to the satisfaction of conditions and the resumption of trading of AIM2's common shares. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; delay or failure to receive shareholder or regulatory approvals; and the results of continued development, marketing and sales. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
AIM2 disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
SOURCE AIM2 Ventures Inc.
For further information: please contact Zyshan Kaba, the Chief Executive Officer of the Corporation, Zyshan Kaba, CEO, email@example.com, 416-818-4972