Westlake Completes Initial Public Offering
14 10월 2011 - 7:22AM
Marketwired
Westlake Capital Ltd. (the "Company") (TSX VENTURE:WLK.P) has
completed its initial public offering pursuant to a Prospectus
dated September 21, 2011 (the "Prospectus") filed with the British
Columbia and Alberta Securities Commissions. Effective at the
opening of the market on October 14, 2011, the Company's common
shares (the "Shares") will commence trading on Tier 2 of the TSX
Venture Exchange (the "TSXV") under the symbol WLK.P. The Company
issued 2,000,000 Shares for gross proceeds of $200,000. Canaccord
Genuity Corp. acted as agent for the offering. As compensation for
acting as agent, the Company paid a 10% cash commission, a
corporate finance fee, and issued options to purchase up to 200,000
Shares of the Company at a price of $0.10 per Share for a period of
two years from the date the Shares commenced trading on the
TSXV.
The Company also granted stock options to officers and directors
of the Company to purchase up to 440,000 Shares at a price of $0.10
per Share, exercisable until October 6, 2016.
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.
ON BEHALF OF THE BOARD
Gary Mathiesen, CFO and Director
Neither TSX Venture Exchange nor its Regulations Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Contacts: Westlake Capital Ltd. Gary Mathiesen CFO and Director
(604) 685-2391
Westlake Capital Ltd (TSXV:WLK.P)
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Westlake Capital Ltd (TSXV:WLK.P)
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