News Column

Cluny Capital Corp. Completes Initial Public Offering

August 20, 2014



TORONTO, ONTARIO--(Marketwired - Aug. 20, 2014) - Cluny Capital Corp. (the "Corporation") (TSX VENTURE:CLN.P) is pleased to announce the completion of its initial public offering ("IPO"). The Corporation issued 2,233,700 common shares at a price of $0.20 per share for gross proceeds to the Corporation of $446,740.00. As a result of this issuance, the Corporation has 3,733,701 common shares issued and outstanding, of which 1,500,001 common shares are held in escrow pursuant to the policies of the TSX Venture Exchange (the "TSX-V").

The common shares of the Corporation were listed on the TSX-V at the close of business on August 19, 2014 and will commence trading on the TSX-V under the stock symbol "CLN" at market open on Wednesday, August 20, 2014.

All Group Financial Services Inc. acted as agent in respect of the IPO and received an option to acquire an aggregate of 223,370 common shares for a period of two years from the date of listing at an exercise price of $0.20 per share. A corporate finance fee and a cash commission of 10% of the gross proceeds of the IPO were also paid.

In addition, the Corporation granted an aggregate of 373,370 stock options to its directors and officers at an exercise price of $0.20 per share for a period of ten years from the date of grant.

The net proceeds of the IPO will be used by the Corporation to identify and evaluate assets of businesses for acquisition with a view to completing a "Qualifying Transaction" under the CPC program of the TSX-V as disclosed in the Corporation's prospectus dated May 21, 2014.

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 RELEASE.

Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. The Corporation assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to the Corporation. Additional information identifying risks and uncertainties is contained in the Corporation's filings with the Canadian securities regulators, which filings are available at www.sedar.com.

FOR FURTHER INFORMATION PLEASE CONTACT: Simon Yakubowicz Chief Executive Officer, Corporate Secretary and Director Cluny Capital Corp. T: (416) 787-6633 Source: Cluny Capital Corp.


For more stories on investments and markets, please see HispanicBusiness' Finance Channel



Source: Marketwire (Canada)


Story Tools






HispanicBusiness.com Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters