NOT FOR DISTRIBUTION TO THE U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
CALGARY, Alberta, July 11, 2018 (GLOBE NEWSWIRE) -- Big Dougie Capital Corp. (the "Corporation") (TSX Venture Exchange:STUV.P1) announces it has completed its initial public offering (the "Offering") raising gross proceeds of $200,000, pursuant to a final prospectus dated April 13, 2018. A total of 2,000,000 common shares in the capital of the Corporation ("Shares") were subscribed for at a price of $0.10 per Share. After completion of the Offering, the Corporation now has 12,000,000 Shares issued and outstanding, with the directors, officers and seed shareholders of the Corporation, in aggregate, holding 10,000,000 Shares which are subject to escrow restrictions.
PI Financial Corp. (the "Agent") acted as the agent for the Offering and in connection therewith, the Corporation granted the Agent and its sub-agent non-transferable options (the "Agent’s Options") which entitle the Agent and the sub-agent to purchase up to an aggregate of 200,000 Shares at a price of $0.10 per Share. The Agent’s Options will expire 24 months from the date the Shares were first listed on the TSX Venture Exchange (the "TSXV"), and are only exercisable after the Corporation completes a Qualifying Transaction (as such term is defined in Policy 2.4 of the TSXV). In connection with the Offering, the Agent also received a cash commission equal to 10% of the gross proceeds of the Offering, a corporate finance fee and was reimbursed for its legal fees and expenses.
Concurrent with the closing of the Offering, the Corporation also granted 1,200,000 incentive stock options to its directors, officers and an advisor, which are exercisable for a period of ten years from the date of the grant at an exercise price of $0.10 per Share.
The Shares are listed on the TSXV, are currently halt traded and the halt is expected to be lifted and trading is expected to commence on or about Friday, July 13, 2018.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
ABOUT THE CORPORATION
The Corporation is a capital pool company (a "CPC") that has not commenced commercial operations and has no assets other than cash. Except as specifically contemplated in the TSX Venture Exchange Inc.'s CPC policy, until the completion of its Qualifying Transaction, the Corporation will not carry on business, other than the identification and evaluation of businesses or assets with a view to completing a proposed qualifying transaction.
For further information, please contact:
Al. J. Kroontje
Chief Executive Officer and Director
Big Dougie Capital Corp.
Telephone: (403) 607-4009
Email: al@kasten.ca
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 news release.
