CALGARY, June 10, 2016 /CNW/ - Mosaic Capital Corporation ("Mosaic" or the "Company") (TSX-V Symbols: M and M.PR.A) is pleased to announce that it has retained Colwell Capital Corp. ("Colwell") to provide the Company with investor relations services effective today, subject to the approval of the TSX Venture Exchange.
Under the terms of the agreement with Colwell, Mosaic will pay a monthly retainer fee of $6,500 and the agreement can be terminated upon 30 days' notice by either party. In addition, Mosaic will grant 3,216 restricted securities units ("RSUs") and 10,909 Common share options ("Options") to the principal of Colwell for the purchase of Common shares of Mosaic. The Options have an exercise price of $4.85 and, subject to certain conditions, will expire 5 years from the date of grant. $4.85 has been set as the settlement price for the RSUs, which are to be settled on a one-for-one basis for Mosaic common shares. The RSUs and Options will vest yearly in three equal tranches starting in the Spring of 2017.
ABOUT COLWELL CAPITAL CORP.
Colwell Capital Corp., is a Calgary based Investor Relations' company representing public and private clients in the technology, resource, and industrial sectors for nearly 18 years. Colwell is focused on introducing and representing high quality growth stories to its Canadian network.
ABOUT MOSAIC CAPITAL CORPORATION
Mosaic is a Canadian investment company that owns a portfolio of established businesses which span a diverse range of industries and geographies. Mosaic's strategy is to create long-term value for its shareholders through accretive acquisitions, long-term portfolio ownership, sustained cash flows and organic portfolio growth. Mosaic achieves its objectives by maintaining financial discipline, acquiring businesses at attractive valuations, performing extensive acquisition due diligence, utilizing optimal transaction structuring and working closely with subsidiary businesses after acquisition.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Mosaic Capital Corporation
For further information: Allan Fowler, Chief Financial Officer, Mosaic Capital Corporation, 400, 2424 - 4th Street SW, Calgary, AB T2S 2T4, T: (403) 270-4663, E: [email protected]