Brades Completes its Prospectus Offering and Lists on the TSX Venture Stock Exchange
BRADES RESOURCE CORP.
2020 – 401 West Georgia Street Vancouver, B.C. V6B 5A1 Tel. (604) 687-7740 Fax. (604) 681-0796
N E W S R E L E A S E
Brades Completes its Prospectus Offering and Lists on the TSX Venture Stock Exchange
October 31, 2012 TSXV Symbol: BRA
Vancouver, British Columbia. Brades Resource Corp. (the “Company”) is pleased to announce that it has completed its initial public offering (“IPO”) of 5,539,665 Shares at a price of $0.15 per share for aggregate gross proceeds of $830,949.75.
The TSX Venture Exchange (the “TSXV”) has accepted the Company’s listing application, and the Company’s common shares were listed on the TSXV at the opening of the market on October 31, 2012 (the “Listing Date”) but are subject to a halt in trading. The Company expects that the halt will be lifted at the opening of the market on November 2, 2012 under the trading symbol “BRA”.
Jordan Capital Markets Inc. (the “Agent”) acted as the Company’s agent. As consideration, the Agent, received a cash commission of $66,476 (8% of the gross proceeds of the IPO). The Agent also received a corporate finance fee and 50,000 common shares (the “Corporate Finance Fee Shares”) in consideration of the corporate finance and structuring services provided by the Agent; and reimbursement of its legal fees and expenses as incurred. The Corporate Finance Fee Shares are qualified for distribution under the Company’s Prospectus.
The Company presently has 14,089,665 common shares and 6,000,000 share purchase warrants (“Warrants”) issued and outstanding of which 1,833,334 common shares and 333,334 Warrants are subject to escrow restrictions as set out in an Escrow Agreement dated March 31, 2009, as amended on March 17, 2010, among the Company, Computershare Investor Services Inc. and certain principals of the Company, to be released as to 10% on the Listing Date and 15% every six months thereafter. The Warrants are exercisable at a price of $0.15 per share until April 30, 2013.
Complete details of the IPO and the Company’s business are as set out in the Company’s IPO Prospectus dated September 13, 2012 which is filed on SEDAR.
The Company’s board of directors consists of Cheryl More (CEO), Harrison Cookenboo, Tony Chan and Robert Dardi. Christopher Cherry is the Company’s CFO and Corporate Secretary.
ON BEHALF OF THE BOARD
“Cheryl More”
Cheryl More CEO and Director
FOR FURTHER INFORMATION PLEASE CONTACT:
Telephone: (604) 684-6264
Facsimile: (604) 681-0796 Website: Contact:
THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S.
NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES. THESE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.
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.