VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 06/28/13 -- Turquoise Capital Corp. (the "Company") (TSX VENTURE: TQC.P), a capital pool company, is pleased to announce that it successfully completed its initial public offering (the "IPO") of 3,012,000 common shares of the Company at a price of $0.10 per share for gross proceeds of $301,200 (the "Proceeds").
Mackie Research Capital Corporation acted as agent (the "Agent") for the IPO. The Company paid to the Agent a cash commission equal to 10% of the Proceeds and granted to the Agent and the sub-agents non-transferable options to purchase 301,200 common shares of the Company at a price of $0.10 per share until June 27, 2015. The Agent also received a corporate finance fee.
The Company is also pleased to announce that it has received approval of its application to list its common shares on the TSX Venture Exchange ("TSX-V"). The Company's common shares will commence trading on the TSX-V on July 3, 2013 under the trading symbol "TQC.P".
About the Company
The Company is a Capital Pool Company within the meaning of the policies of the Exchange. The Company has not commenced operations and has no assets other than cash.
The Company intends to use the net proceeds of the IPO to identify and evaluate potential Qualifying Transactions under the policies of the Exchange.
Forward-Looking Information
Information set forth in this news release contains forward-looking statements. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. The Company cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among other things: risks and uncertainties relating to the Company's expectation to list its common shares on the TSX-V, its ability to identify, evaluate and complete a Qualifying Transaction and other risks and uncertainties, including those described in the Company's Prospectus dated April 15, 2013 filed with the Canadian Securities Administrators and available on www.sedar.com. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.
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.
Contacts:
Turquoise Capital Corp.
Peter Hinam
CEO
(604) 710-8331
phinam@turquoisecapitalcorp.com
