WestCap Investments Corp. Completes Initial Public Offering

TSX-V: WI.P

TORONTO, Feb. 7, 2014 /CNW/ - WestCap Investments Corp. (the "Company") has completed its initial public offering (the "Offering") pursuant to a prospectus dated January 22, 2014 (the "Prospectus") filed with the British Columbia, Alberta and Ontario Securities Commissions.  Effective at the opening of the market on February 11, 2014, the Company's common shares (the "Shares") are expected to commence trading on Tier 2 of the TSX Venture Exchange (the "TSXV") under the symbol "WI.P", subject to the final approval of the TSXV.  Pursuant to the Prospectus, the Company issued 5,000,000 Shares for gross proceeds of $500,000.  Raymond James Ltd. acted as agent for the offering.  As compensation for acting as agent, the Company paid a 8% cash commission of the aggregate gross proceeds from the sale of the Shares, a corporate finance fee, and issued options to purchase up to 8% of the Shares of the Company sold in connection with this Offering at a price of $0.10 per Share exercisable for a period of 24 months from the date the Shares are posted for trading on the TSXV.

The Company has also granted stock options to officers and directors of the Company to purchase 375,000 Shares at a price of $0.10 per Share, exercisable for a period of five years from the date the Shares commence trading on the TSXV.

The Company is designated as a Capital Pool Company by the TSXV.  The Company has not commenced commercial operations and has no assets other than cash.  The purpose of the offering is to provide the Company with funds to identify and evaluate businesses or assets with a view to completing a Qualifying Transaction (as defined in the Prospectus).  Any proposed Qualifying Transaction must be approved by the TSXV and, in the case of a non-arm's length Qualifying Transaction, must also receive majority approval of the minority shareholders.  Until the completion of a Qualifying Transaction, the Company will not carry on any business other than the identification and evaluation of businesses or assets with a view to completing a proposed Qualifying Transaction.  For further information regarding the Company, the Offering, and the Company's management team, see the Prospectus filed with the Company's disclosure documents on SEDAR at www.sedar.com.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States.  The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Neither the TSXV nor its Regulations Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: WestCap Investments Corp.

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