VANCOUVER, BC, Dec. 17, 2021 /CNW/ - Ventures 6
Corp. (the "Company") (TSX-V: ECCS.P) is pleased to
announce that, on December 17, 2021,
it completed an initial public offering (the "Offering") in
British Columbia and Alberta of 2,000,000 common shares ("Common
Shares") in the capital of the Company at a price of $0.10 per Common Share for gross proceeds of
$200,000 pursuant to a final
prospectus dated November 8, 2021
(the "Prospectus"). Following closing of the Offering, a total of
5,650,000 Common Shares are issued and outstanding, of which
2,000,000 are currently held in escrow pursuant to the policies of
the TSX Venture Exchange (the "TSX-V"), as disclosed in the
Prospectus.
The net proceeds of the Offering, together with the proceeds
from prior sales of Common Shares will be used by the Company to
identify and evaluate assets or businesses for acquisition with a
view to completing a Qualifying Transaction under the TSX-V's
capital pool company program.
Pursuant to the agency agreement dated November 8, 2021, Research Capital Corporation
(the "Agent") acted as agent for the Offering. In connection with
the Offering, the Company granted to the Agent, options to acquire
up to an aggregate of 200,000 Common Shares at a price of
$0.10 per Common Share for a period
of 60 months from the date the Common Shares are listed on the
TSX-V. Furthermore, the Agent also received a cash commission of
$20,000, representing 10% of the
aggregate gross proceeds of the Offering, and a corporate finance
fee of $12,000 plus applicable
taxes.
At the closing of the Offering, the Company also granted stock
options (the "Options") to directors of the Company to acquire up
to an aggregate of 565,000 Common Shares. Each Option is
exercisable to acquire one Common Share at a price of $0.10 any time prior to December 17, 2031, and are subject to escrow
restrictions pursuant to the policies of the TSX-V.
The TSX-V has accepted the Company's listing application. The
Company will disseminate a further press release once a date has
been determined for the resumption in trading of the Common Shares
on the TSX-V, under the trading symbol ECCS.P. The Company's
CUSIP is 26827M107 and ISIN is CA26827M1077.
For further information please see the Prospectus, available
under the Company's profile on SEDAR at www.sedar.com.
About the Company
The Company is a capital pool company ("CPC") within the meaning
of the policies of the TSX-V that has not commenced commercial
operations and has no assets other than cash. The current directors
and officers of the Company are Peter
Dickie (CEO, CFO, Corporate Secretary and Director),
Nathan Durno (Director) and
Charles Desjardins (Director).
Except as specifically contemplated in the CPC policies of the
TSX-V, until the completion of its "Qualifying Transaction" (as
defined therein), the Company will not carry on business, other
than the identification and evaluation of companies, business, or
assets with a view to completing a proposed "Qualifying
Transaction".
On Behalf of the Board of Directors of ECC
Ventures 6 Corp.
Peter Dickie
Director
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.
This news release includes forward-looking statements that
are subject to risks and uncertainties. All statements within,
other than statements of historical fact, are to be considered
forward looking. Although the Company believes the expectations
expressed in such forward-looking statements are based on
reasonable assumptions, such statements are not guarantees of
future performance and actual results or developments may differ
materially from those in forward-looking statements. Factors that
could cause actual results to differ materially from those in
forward-looking statements include market prices, continued
availability of capital and financing, and general economic, market
or business conditions. There can be no assurances that such
statements will prove accurate and, therefore, readers are advised
to rely on their own evaluation of such uncertainties. We do not
assume any obligation to update any forward-looking
statements.
SOURCE ECC Ventures 6 Corp.