Battery Road Capital Corp. Completes Initial Public Offering
Halifax, Nova Scotia--(Newsfile Corp. - October 2, 2018) - Battery Road Capital Corp., a capital pool company, is pleased to announce that it has completed its initial public offering of 4,000,000 common shares at a price of $0.10 per common share for gross proceeds to the Company of $400,000. Haywood Securities Inc. acted as agent in respect of the offering and was paid a cash commission equal to 10% of gross proceeds, and was granted non-transferable warrants to purchase 10% of the number of common shares sold pursuant to the Offering. The Agent's warrants are exercisable for a period of 24 months at an exercise price of $0.10 per common share. The offering was made by prospectus dated August 10, 2018, a copy of which may be obtained on SEDAR at www.sedar.com.
The Company's common shares have been approved for listing on the TSX Venture Exchange. The Company's common shares will commence trading on the Exchange today under the symbol 'BTRY.P'.
The net proceeds of the offering will be used 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 Exchange as disclosed in the Company's prospectus dated August 10, 2018.
Certain information in this press release may contain forward-looking statements, such as statements regarding future plans and objectives. 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 Company 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 Company. Additional information identifying risks and uncertainties is contained in the Company's filings with the Canadian securities regulators, which filings are available at www.sedar.com.
Neither the 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.
For Further Information:
Chief Financial Officer
Battery Road Capital Corp.
Phone (902) 334-2257