TORONTO, ONTARIO -- (Marketwired) -- 10/25/17 -- Apolo Acquisition Corp. (the "Corporation") (TSX VENTURE: ACA.P) is pleased to announce that it completed a non-brokered private placement offering of 3,250,000 common shares in the capital of the Corporation (the "Common Shares") at a price of $0.10 per Common Share for aggregate gross proceeds of $325,000 (the "Offering"). Following the closing of the Offering, a total of 11,650,000 Common Shares are issued and outstanding, of which 3,400,000 are currently held in escrow pursuant to the policies of the TSX Venture Exchange (the "Exchange").
The net proceeds of the Offering, together with the proceeds from prior sales of Common Shares, will be used by the Corporation to identify and evaluate assets or businesses for acquisition with a view to completing a "Qualifying Transaction" under the Exchange's capital pool company program.
The Common Shares issued under the Offering are subject to a hold period expiring on February 26, 2018.
FORWARD-LOOKING STATEMENTS
This press release contains certain statements which are "forward-looking" within the meaning of applicable securities laws. Forward-looking statements include, but are not limited to, the Corporation's future plans and intentions, use of proceeds of the Offering and completion of a Qualifying Transaction. Wherever possible, words such as "may", "will", "should", "could", "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict" or "potential" or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management's current beliefs and are based on information currently available to management as at the date hereof.
Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, the Corporation cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release, and the Corporation assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Apolo Acquisition Corp.
Michael Galego, Director
Telephone: 416.361.3121
