VANCOUVER, Jan. 12 /CNW/ - Further to its previous news release, CCS Capital Inc. ("CCS" or the "Company"), a Capital Pool Company, is pleased to announce that it has completed its Initial Public Offering (the "Offering") pursuant to which it has issued an aggregate of 2,000,000 common shares ("Shares") at a price of $0.10 per Share to raise aggregate gross proceeds of $200,000, all pursuant to a final prospectus dated December 9, 2009. Union Securities Ltd. (the "Agent") acted as agent in the Offering, in connection with which it and its selling group received an aggregate of 200,000 compensation options, each such compensation option entitling the holder to acquire one common share of CCS at an exercise price of $0.10 per common share until the date that is 24 months after the date the common shares of CCS are listed on the TSX Venture Exchange. The Company also paid the Agent a cash commission and a corporate finance fee in connection with the Offering.
The proceeds of the Offering will be used towards the identification and evaluation of a potential business or asset acquisition in order to complete a Qualifying Transaction.
The Company commenced trading on the TSX Venture Exchange as a Capital Pool Company on Monday, January 11, 2010 under the symbol "CSW".
On behalf of the Company,
Chief Executive Officer and Chief Financial Officer
Caution Regarding Forward-looking Information
Information in this news release respecting the use of funds and whether the Company will be listed on the TSX Venture Exchange constitutes forward-looking information. Statements containing forward-looking information express, as at the date of this news release, the Company's plans, estimates, forecasts, projections, expectations, or beliefs as to future events or results and are believed to be reasonable based on information currently available to the Company.
The listing of the Company on the TSX Venture Exchange, including as a capital pool company, and the use of proceeds of the IPO are subject to certain conditions which include external factors which are not within the Company's control. Forward-looking statements and information in connection with the Company's listing are based on assumptions that the Company meets the TSX Venture Exchange's requirements and is accepted by the TSX Venture Exchange for listing. Forward-looking statements and information in connection with the Company locating and completing a potential Qualifying Transaction are based on the factors and assumptions described under "Risk Factors" in the Company's Final Prospectus, dated December 9, 2009, which is available on SEDAR under the Company's profile at www.sedar.com.
There can be no assurance that forward-looking statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on forward-looking information.
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.
SOURCE CCS CAPITAL INC.
For further information: For further information: Kim Oishi, Chief Executive Officer and Chief Financial Officer, CCS Capital Inc., Phone: (604) 899-9123