Pembroke Capital Corp. Completes Initial Public Offering as a Capital Pool Company
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
PEMBROKE CAPITAL CORP.
918 – 1030 WEST GEORGIA STREET VANCOUVER, BC V6E 2Y3
NEWS RELEASE
Pembroke Capital Corp. Completes Initial Public Offering as a Capital Pool Company
October 19, 2010 – Vancouver, British Columbia. Pembroke Capital Corp. ("Pembroke" or the "Corporation"), a capital pool company, is pleased to announce that on October 19, 2010 it successfully completed its initial public offering (the "Offering") through its agent, PI Financial Corp. (the "Agent"), of 4,000,000 common shares (the "Shares") at $0.10 per Share for gross proceeds of $400,000 pursuant to a prospectus dated August 25, 2010. After giving effect to the Offering, 9,150,000 Shares are now issued and outstanding. Pembroke has also granted to its directors and officers, options to acquire an aggregate of 460,000 Shares at a price of $0.10 per Share, for a period of five years from the date (the "Listing Date") the Shares are listed on the TSX Venture Exchange (the "Exchange"). In addition, the Corporation granted to the Agent a non-transferable option to purchase up to 400,000 Shares at a price of $0.10 per Share which may be exercised for a period of 24 months from the Listing Date. The Agent also received a cash commission equal to 10% of the gross proceeds of the Offering, as well as a corporate finance fee. Pembroke will use the net proceeds of the Offering as described in its prospectus dated August 25, 2010 and available for review on SEDAR.
The board of directors of Pembroke consists of Vince Sorace, Steve Bajic, Alex Baluta and Mark Selby.
Pembroke anticipates that its common shares will begin trading on the Exchange on or about October 21, 2010 under the trading symbol “PBK.P”.
For further information please contact:
Vince Sorace Chief Executive Officer Phone: 604.639.9056
INVESTORS ARE CAUTIONED THAT TRADING IN THE SECURITIES OF A CAPITAL POOL COMPANY SHOULD BE CONSIDERED HIGHLY SPECULATIVE. NEITHER THE 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 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.