TORONTO, Oct. 21, 2014 /CNW/ - Campar Capital Corporation (the "Corporation"), a capital pool company, is pleased to announce that it has completed its initial public offering by issuing 4,000,000 common shares at a price of $0.10 per common share, for gross proceeds to the Corporation of $400,000 (the "Offering").
The common shares of the Corporation are expected to commence trading on the TSX Venture Exchange on October 24, 2014 under the trading symbol of "CHK", subject to the Corporation receiving final listing approval from the TSX Venture Exchange.
The net proceeds of the Offering will be used by the Corporation 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. The Corporation currently intends to pursue a Qualifying Transaction through the acquisition of real property and a reorganization by way of a plan of arrangement.
Raymond James Ltd. (the "Agent") acted as agent for the Offering. In connection with the Offering, the Agent received a commission equal to 8% of the aggregate gross proceeds of the sale of the common shares.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain statements contained in this news release constitute forward-looking information within the meaning of Canadian securities laws. Forward looking statements are provided for the purposes of assisting the reader in understanding the Corporation's performance and to present information about management's current expectations and plans relating to the future and readers are cautioned such statements may not be appropriate for other purposes. Forward-looking information may relate to future results, performance, achievements, events, prospects or opportunities for the Corporation. Some of the specific forward looking statements in this news release include the commencement of trading of the Corporation's common shares on the TSX Venture Exchange and the Corporation's completion of a Qualifying Transaction and reorganization by way of plan of arrangement.
Forward looking statements necessarily involve known and unknown risks and uncertainties, that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, assumptions may not be correct and objectives, strategic goals and priorities will not be achieved. A variety of factors, many of which are beyond the Corporation's control, affect the operations, performance and results of the Corporation and its business, and could cause actual results to differ materially from current expectations of estimated or anticipated events or results. The reader is cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward looking statements as there can be no assurance actual results will be consistent with such forward looking statements.
Information contained in forward looking statements is based upon certain material assumptions that were applied in drawing a conclusion or making a forecast or projection, including management's perceptions of historical trends, current conditions and expected future developments, as well as other considerations that are believed to be appropriate in the circumstances. While management considers these assumptions to be reasonable based on currently available information, they may prove to be incorrect.
The forward-looking information included in this news release relates only to events or information as of the date hereof. Except as specifically required by applicable Canadian law, the Corporation undertakes no obligation to update or revise publicly any forward-looking information, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.
SOURCE: Campar Capital Corporation
For further information: please see the Prospectus of the Corporation dated October 8, 2014 or contact: Daniel Drimmer, Chief Executive Officer, Tel: (416) 234-8444, or Tamara Lawson, Chief Financial Officer, Tel: (416) 234-8444