CALGARY, Jan. 14 /CNW/ - Carmen Energy Inc. ("Carmen") (TSX Venture: CEI.P) announces it has completed its initial public
offering ("Offering") raising gross process of $300,000 pursuant to a capital pool company
prospectus dated December 16, 2010. A total of 3,000,000 common shares
in the capital of Carmen (the "Shares") were issued at a price of $0.10 per Share. PI Financial Corp. ("PI") acted as the agent for the Offering. PI received a corporate finance
fee and a cash commission equal to 10% of the gross proceeds Offering.
In addition PI was issued an option to purchase 300,000 Shares at a
price of $0.10 for a period of two years from the date the Shares are
listed on the TSX Venture Exchange.
Carmen now has 9,699,500 Shares outstanding, with the directors and
officers of Carmen holding, in aggregate, 3,150,000 Shares.
The Shares of Carmen have been conditionally approved for listing on the
TSX Venture Exchange and are expected to begin trading within the next
week under the stock symbol CEI.P.
Carmen is a capital pool company ("CPC") that has not commenced commercial operations and has no assets other
than cash. Except as specifically contemplated in the CPC policies of
the TSX Venture Exchange, until the completion of the qualifying
transaction, Carmen will not carry on business, other than the
identification and evaluation of companies, business or assets with a
view to completing a proposed qualifying transaction.
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 news
A Note regarding Forward Looking Information
This press release contains forward-looking statements (collectively
"forward-looking information") within the meaning of applicable
securities laws regarding the anticipated listing date of the Shares on
the TSX Venture Exchange.
The forward-looking information is based on certain key expectations and
assumptions made by Carmen's management, including obtaining all
necessary approvals of the TSX Venture Exchange. Although Carmen
believes that the expectations and assumptions on which such
forward-looking information is based are reasonable, undue reliance
should not be placed on the forward-looking information because Carmen
can give no assurance that they will prove to be correct.
These forward-looking statements are made as of the date of this press
release and Carmen disclaims any intent or obligation to update
publicly any forward-looking information, whether as a result of new
information, future events or results or otherwise, other than as
required by applicable securities laws.
SOURCE Carmen Energy Inc.
For further information:
President, Chief Executive Officer and Director
Carmen Energy Inc.
Telephone: (403) 813-3544