VANCOUVER, Dec. 18, 2013 /CNW/ - David H. Brett, CEO, Inovent Capital Inc. (the "Company"), a Capital Pool Company, is pleased to announce that on December 18, 2013, the Company successfully completed its initial public offering (the "Offering"). The Company's common were listed for trading today on the TSX Venture Exchange under the trading symbol "IVQ.P".
Inovent issued 2,564,800 common shares (the "Shares") for gross proceeds of $256,480 through the Company's agent, Euro Pacific Canada Inc. (the "Agent"). In connection with the Offering, the Agent received a cash commission equal to 10% of the gross proceeds of the Offering. In addition, the Company granted to the Agent a non-transferable warrant to purchase up to 256,480 shares at a price of $0.10 per share which may be exercised for a period of 24 months from today. The Agent was also paid a corporate finance fee for its services in connection with the Offering.
"Inovent's seasoned board brings decades of business experience to fulfilling our mission, which is to identify a qualifying transaction that has the potential to provide excellent returns to shareholders," said Inovent CEO David H. Brett. "Our initial focus will be to find exciting opportunities in technology and life sciences."
The board of directors of the Company consists of David H. Brett, George A. Pietrobon, Ari M. Shack, John Gomez and Robert J. Baylis.
On behalf of the board of INOVENT CAPITAL INC.
Per: "David Brett"
David H. Brett, MBA
Chief Executive Officer & Director
Investors are cautioned that trading in the securities of a capital pool company should be considered highly speculative. The TSX Venture exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this release.
SOURCE: Inovent Capital Inc.
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Chief Executive Officer