TORONTO, Nov. 12 /CNW/ - Valucap Investments Inc. (V-TSXV) ("Valucap") announces that it is continuing to receive subscriptions under its private placement of up to 15,000,000 units of the Company (each, a "Unit") at $0.10 per Unit for gross proceeds of up to $1,500,000, which was announced earlier. The Company expects to complete the private placement within the next 45 days. Each Unit will consist of one common share of Valucap (a "Common Share") and one warrant entitling its holder to purchase one Common Share at an exercise price of $0.15 for a period of 12 months from issuance (a "Warrant"). Harris Brown & Partners Limited are acting as Valucap's agent for the offering. The net proceeds of the offering will be used to finance Valucap's business of acquiring interests in investee companies in accordance with Valucap's investment strategy, and for working capital.
Valucap is an investment issuer and is interested in acquiring influential positions in venture stage Canadian technology companies. Valucap seeks to invest in companies that are positioned to leverage the rapid adoption of emerging technology shifts such as "cloud computing", Web 2.0, and Software as a Service (SaaS). The Company provides investees with both the capital and management support required to exploit opportunities for growth.
This press release includes certain "Forward-Looking Statements." All statements, other than statements of historical fact, included herein, including without limitation, statements regarding future plans and objectives of Valucap, are forward-looking statements that involve various 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.
Neither 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 VALUCAP INVESTMENTS INC.
For further information: For further information: Valucap Investments Inc.: Jeffrey S. Watts, President and Chief Executive Officer, Tel: (416) 364-2591, Email: email@example.com