/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATATION
IN THE UNITED STATES/
KELOWNA, BC, July 2, 2013 /CNW/ - Trincan Capital Corp. ("Trincan" or the "Corporation") (TRN:TSX-V) is pleased to announce a proposed non-brokered private
placement (the "Private Placement") of up to 7,500,000 units of the Corporation ("Units") at a price of $0.07 per Unit for aggregate gross proceeds of up to
$525,000. Each Unit shall consist of one common share of the
Corporation (a "Common Share") and one-half of one Common Share purchase warrant (each whole such
warrant, a "Warrant"). The Warrant will not be listed. Each whole Warrant shall be
exercisable for one Common Share at a price of $0.15 per Common Share
for a period of two years following closing on July 31, 2015. All
securities in the Private Placement will be subject to a four month
hold period from the closing of the Private Placement. Agents may be
paid a finder's fee of up to 10% of the aggregate subscription secured
by such agents pursuant to the Private Placement. Closing of the
Private Placement is not subject to a minimum aggregate amount but
shall be subject to receipt of all required regulatory approvals.
The proceeds of the Private Placement will be used for general working
capital purposes. The Units will be issued to purchasers pursuant to
exemptions from the prospectus requirements of applicable securities
legislation and will be subject to resale restrictions, as required
under the applicable securities legislation. An additional 3,750,000
Common Shares will be reserved for issuance on exercise of the
Warrants. After giving effect to the Private Placement, Trincan will
have 16,469,000 Common Shares outstanding.
Any participation by insiders of the Corporation in the private
placement will be on the same terms as the arm's length investors, and
the shareholdings of insiders in the Corporation will increase as a
result of any such participation. It is anticipated that certain
directors will subscribe for Units but in any event not in excess of
25% of the Private Placement. The Corporation has no reason to believe
that the Private Placement will result in a change of control of the
An initial Closing of the Private Placement is expected to occur on or
about July 20, 2013 but in any event on August 1, 2013.
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.
No stock exchange, securities commission or other regulatory authority
has approved nor disapproved the information contained herein.
This news release contains forward-looking statements relating to the
issuance of securities and the use of proceeds from the Private
Placement and other statements that are not historical facts.
Forward-looking statements are often identified by terms such as
"will", "should", "anticipate", "expects" and similar expressions. All
statements other than statements of historical fact, included in this
release, including, without limitation, statements regarding the
issuance of securities, the use of proceeds from the Private Placement,
and future plans and objectives of the Company, are forward looking
statements that involve risks and uncertainties. There can be no
assurance that such statements will prove to be accurate and actual
results and future events could differ materially from those
anticipated in such statements. Important factors could cause actual
results to differ materially from the Company's expectations and are
detailed from time to time in the filings made by the Company with
The reader is cautioned that assumptions used in the preparation of any
forward-looking information may prove to be incorrect. Events or
circumstances may cause actual results to differ materially from those
predicted, as a result of numerous known and unknown risks,
uncertainties, and other factors, many of which are beyond the control
of Trincan. As a result, Trincan cannot guarantee that any
forward-looking statement will materialize and the reader is cautioned
not to place undue reliance on any forward-looking information. Such
information, although considered reasonable by management at the time
of preparation, may prove to be incorrect and actual results may differ
materially from those anticipated. Forward-looking statements contained
in this news release are expressly qualified by this cautionary
statement. The forward-looking statements contained in this news
release are made as of the date of this news release, and Trincan does
not undertake any obligation to update publicly or to revise any of the
included forward-looking statements, whether as a result of new
information, future events or otherwise, except as expressly required
by Canadian securities law.
SOURCE: TrinCan Capital Corp.
For further information:
Trincan Capital Corp.
Phone: (250) 860-4604