Tasex Capital Limited Completes Initial Public Offering and Lists Common Shares on the TSX Venture Exchange
TASEX CAPITAL LIMITED #1305 - 1090 W. Georgia Street Vancouver, British Columbia V6E 3V7 Tel: 604 685-9316
Tasex Capital Limited Completes Initial Public Offering and Lists Common Shares on the TSX Venture Exchange
Vancouver, June 9, 2011 – Tasex Capital Limited (the “Corporation”), a capital pool company, announces that it has completed its initial public offering (“IPO”) consisting of a new issue of 2,000,000 common shares priced at $0.10 per share, for gross proceeds of $200,000. The Corporation’s common shares are expected to commence trading on the TSX Venture Exchange (the “TSX-V”) under the symbol “TAX.P” at market opening on June 10, 2011.
The net proceeds of the IPO will be used by the Corporation to identify and evaluate assets or businesses for acquisition with a view to completing a “Qualifying Transaction” under the Capital Pool Company program of the TSX-V as disclosed in the Corporation’s prospectus dated April 29, 2011.
Leede Financial Markets Inc. (the “Agent”) acted as agent for the IPO and was issued a non-transferable option entitling the Agent to purchase 200,000 common shares at a price of $0.10 per share, exercisable for a period of 24 months from the date of listing of the common shares on the TSX-V. The Agent also received a commission equal to 10% of the total gross proceeds of the IPO, and a corporate finance fee.
The Corporation has also granted stock options to its directors and officers to acquire up to an aggregate of 685,000 common shares at a price of $0.10 per share, exercisable until June 8, 2016.
An aggregate of 4,350,000 previously issued and outstanding common shares of the Corporation were placed in escrow in accordance with the policies of the TSX-V (the total number of issued and outstanding common shares following completion of the IPO is 6,850,000).
FOR FURTHER INFORMATION PLEASE CONTACT:
Tasex Capital Limited
David Henstridge, President Tel: 604 685-9316
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.