This release is intended for distribution in Canada only and is not intended for distribution to United States newswire services or for dissemination in the United States.
- Private placement to consist of a maximum of $500,000 in units
MONTREAL, March 13, 2014 /CNW Telbec/ - Knowlton Capital Inc. (TSXV: KWC.H) announces that it is effecting a private placement of up to 10 million units at a price of $0.05 per unit, for maximum gross proceeds to Knowlton of $500,000. Each unit will be comprised of one common share and one common share purchase warrant. Each full warrant will entitle its holder to acquire one additional common share of Knowlton at a price of $0.05 for twelve months from the date of issuance. Knowlton will use the proceeds from the private placement for working capital.
The private placement is expected to close on or about March 31, 2014, subject to customary closing conditions.
The private placement will be effected pursuant to prospectus exemptions under applicable Canadian securities legislation. The securities issued by Knowlton in the private placement will be subject to a four-month "hold period" under applicable Canadian securities legislation.
This news release contains statements that may constitute "forward-looking information" or "forward-looking statements" within the meaning of applicable Canadian securities laws. Forward-looking information and statements may include, among others, statements regarding the future plans, costs, objectives or performance of Knowlton Capital Inc. ("Knowlton"), or the assumptions underlying any of the foregoing. In this news release, words such as "may", "would", "could", "will", "likely", "believe", "expect", "anticipate", "intend", "plan", "estimate" and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits Knowlton will derive. Forward-looking statements and information are based on information available at the time and/or management's good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond Knowlton's control. Knowlton does not intend, nor does Knowlton undertake any obligation, to update or revise any forward-looking information or statements contained in this news release to reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.
Neither the TSX Venture Exchange nor its Regulation Service 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: Knowlton Capital Inc.
For further information:
Chief Financial Officer