/THIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS AGENCIES/
MONTREAL, Dec. 16 /CNW Telbec/ - MCO Capital Inc. ("MCO" or the "Company") (NEX: MCO.H), announces the closing of a non-brokered private placement offering (the "Offering") for gross proceeds of $502,263.
The Offering consisted of the issuance of 6,088,040 common shares (the "Shares") at a price of $0.0825 per Share.
The funds raised pursuant to the Offering will be used to fund the Company's working capital and cover expenses associated to the projected acquisition of IOU Central Inc. (the "Acquistion"), as previously disclosed in its October 15, 2009, press release.
All securities issued in the Offering will be subject to a four month hold period from the closing date of the Offering ending April 11, 2010. Completion of this Offering is subject to TSX Venture Exchange acceptance.
The business of MCO is to identify and evaluate business assets with a view to a potential acquisition. MCO shares are presently listed on the NEX division of the TSXV and the Company has not had any commercial activities over the past 6 years. In the event the Acquisition is completed, MCO intends to be relisted on the TSXV as a Tier 2 issuer.
THIS PRESS RELEASE, PROVIDED PURSUANT TO APPLICABLE CANADIAN REQUIREMENTS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN. THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS ABSENT REGISTRATION OR APPLICABLE EXEMPTION FROM REGISTRATION REQUIREMENTS.
CERTAIN INFORMATION SET FORTH IN THIS NEWS RELEASE MAY CONTAIN FORWARD-LOOKING STATEMENTS THAT INVOLVE SUBSTANTIAL KNOWN AND UNKNOWN RISKS AND UNCERTAINTIES. THESE FORWARD-LOOKING STATEMENTS ARE SUBJECT TO NUMEROUS RISKS AND UNCERTAINTIES, CERTAIN OF WHICH ARE BEYOND THE CONTROL OF MCO AND IOU, INCLUDING, BUT NOT LIMITED TO, THE IMPACT OF GENERAL ECONOMIC CONDITIONS, INDUSTRY CONDITIONS, DEPENDENCE UPON REGULATORY AND SHAREHOLDER APPROVALS, THE EXECUTION OF DEFINITIVE DOCUMENTATION AND THE UNCERTAINTY OF OBTAINING ADDITIONAL FINANCING. READERS ARE CAUTIONED THAT THE ASSUMPTIONS USED IN THE PREPARATION OF SUCH INFORMATION, ALTHOUGH CONSIDERED REASONABLE AT THE TIME OF PREPARATION, MAY PROVE TO BE IMPRECISE AND, AS SUCH, UNDUE RELIANCE SHOULD NOT BE PLACED ON FORWARD-LOOKING STATEMENTS. MCO DOES NOT ASSUME ANY OBLIGATION TO UPDATE OR REVISE ITS FORWARD-LOOKING STATEMENTS, WHETHER AS A RESULT OF NEW INFORMATION, FUTURE EVENTS, OR OTHERWISE.
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 MCO CAPITAL INC.
For further information: For further information: Philippe Marleau, President, MCO Capital Inc., (514) 789-0694, firstname.lastname@example.org