Tailwind Capital Corporation Announces Closing of Initial Public Offering
15 Mayo 2018 - 4:20PM
Tailwind Capital Corporation (the "
Corporation")
(TSX Venture:TW.P) announces it has completed its initial public
offering (the "
Offering") raising gross proceeds
of $200,000, pursuant to a final prospectus dated March 13,
2018. A total of 2,000,000 common shares in the capital of
the Corporation (the "
Shares") were subscribed for
at a price of $0.10 per Share. PI Financial Corp. (the
"
Agent") acted as the agent for the
Offering. The Agent received a cash commission equal to 10%
of the gross proceeds of the Offering, a corporate finance fee and
non-transferable options to purchase up to 200,000 Shares at a
price of $0.10 per Share for a period of two years from the date
the Shares are first listed on the TSX Venture Exchange (the
"
TSXV").
The Corporation now has 8,000,000 Shares issued
and outstanding, with the directors, officers and seed shareholders
of the Corporation, in aggregate, holding 6,000,000 Shares which
are subject to escrow restrictions.
The Corporation has also granted 800,000
incentive stock options to its directors and officers which are
exercisable for a period of ten years from the date of the grant at
an exercise price of $0.10 per Share.
The Shares are listed on the TSXV, are currently
halt traded and the halt is expected to be lifted and trading is
expected to commence on or about Friday, May 18, 2018.
This news release shall not constitute
an offer to sell or the solicitation of an offer to buy any
securities, nor shall there be any sale of securities in any state
in the United States in which such offer, solicitation or sale
would be unlawful. The securities referred to herein have not been
and will not be registered under the United States Securities Act
of 1933, as amended, and may not be offered or sold in the United
States absent registration or an applicable exemption from
registration requirements.
ABOUT THE CORPORATION
The Corporation is a capital pool company (a
"CPC") that has not commenced commercial
operations and has no assets other than cash. Except as
specifically contemplated in the TSX Venture Exchange Inc.'s CPC
policy, until the completion of its qualifying transaction, the
Corporation will not carry on business, other than the
identification and evaluation of businesses or assets with a view
to completing a proposed qualifying transaction.
For further information, please contact:
Kevin R. Baker, Q.C.President and Chief Executive
Officer
Tailwind Capital Corporation
Telephone: (403) 476-7010Email:
kbaker@baycorcapital.com
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 news release.
Tailwind Capital (TSXV:TW.P)
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