First and Goal Capital Corp. Completes Initial Public Offering and Listing on The TSXV

Toronto, Ontario--(Newsfile Corp. - January 11, 2022) - First and Goal Capital Corp. (TSXV: FGCC.P) ("First and Goal" or the "Corporation") is pleased to announce that it completed an initial public offering ("IPO") of 5,377,500 common shares at a price of $0.10 per share for gross proceeds of $537,750 and is now listed on the TSX Venture Exchange (the "Exchange").

When combined with the cash proceeds raised prior to the IPO, the Corporation has raised total gross proceeds of $1,060,250 and has a total of 15,827,500 common shares issued and outstanding, of which 10,450,000 common shares are currently held in escrow pursuant to the policies of the Exchange.

The net proceeds of the offering, together with the proceeds from prior sales, 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 Exchange's capital pool company program ("CPC").

The Corporation's common shares were listed on the Exchange at the close of business on January 10, 2022 and it is anticipated that the common shares of the Corporation will commence trading on the Exchange today, January 11, 2022, under the stock symbol "FGCC.P".

Richardson Wealth Limited (the "Agent") acted as agent for the initial public offering. In connection with the offering, the Corporation granted to the Agent non-transferable warrants to acquire up to an aggregate of 509,000 common shares (the "Agent's Warrants"). Each Agent's Warrant is exercisable to acquire one common share at a price of $0.10 per common share for a period ending on the earlier of: (i) 5 years following the date that the common shares are listed on the Exchange; and (ii) 1 year from the date of the completion of a Qualifying Transaction (as such term is defined by Exchange policies) by the Corporation. In connection with the offering, the Agent also received a cash commission and a corporate finance fee.

Following the closing of the offering, the Corporation will also grant stock options to directors and officers exercisable to acquire up to an aggregate of 537,750 common shares. The options are exercisable to acquire one common share at a price of $0.10 per common share at any time on or before January 11, 2032.

The current directors and officers of the Corporation are: Paul G. Smith, Chief Executive Officer, Chief Financial Officer and Director; Daiana Turcu, Director; and Charles Gavsie, Director.

For further information please see the Corporation's prospectus dated October 21, 2021, available under the Corporation's profile on SEDAR at www.sedar.com.

ABOUT FIRST AND GOAL

First and Goal is a CPC that has not commenced commercial operations and has no assets other than cash. Except as specifically contemplated in the CPC policies of the Exchange, until the completion of its Qualifying Transaction, First and Goal will not carry on business, other than the identification and evaluation of companies, business or assets with a view to completing a proposed Qualifying Transaction.

FORWARD-LOOKING STATEMENTS

This press release contains certain forward-looking statements, including statements about the Corporation's future plans and intentions, use of proceeds of the offering and completion of a Qualifying Transaction. Wherever possible, words such as "may", "will", "should", "could", "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict" or "potential" or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management's current beliefs and are based on information currently available to management as at the date hereof.

Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, the Corporation cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release, and the Corporation assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

For further information please contact:

First and Goal Capital Corp.
Paul G. Smith
Phone: 416 786-7690

Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/109606