Rider 2 Investment Capital Corp. Announces Closing of Initial Public Offering
Calgary, Alberta--(Newsfile Corp. - April 14, 2021) - RIDER 2 INVESTMENT CAPITAL CORP. (TSXV: RIDR) (the "Corporation"), a capital pool company, is pleased to announce that it has submitted all materials for final listing approval for its common shares to the TSX Venture Exchange (the "Exchange"), and on April 14, 2021 closed its initial public offering of 3,000,000 common shares at $0.10 per share for aggregate gross proceeds of $300,000 through iA Private Wealth Inc., which acted as agent for the Corporation (the "Offering"). The Corporation expects that trading will commence on, or about, April 19, 2021 under the symbol "RIDR.P".
Upon closing of the Offering, the Corporation granted 600,000 incentive stock options to its directors and officers which options are exercisable within five years from the date of grant at an exercise price of $0.10 per share. In addition, the Corporation granted an aggregate of 300,000 options to iA Private Wealth Inc., which options are exercisable until 24 months after the date of listing of the common shares of the Corporation on the Exchange at an exercise price of $0.10 per share. Following completion of the Offering, the Corporation now has 6,000,000 common shares issued and outstanding (3,000,000 of which are subject to escrow restrictions).
The only business of the Corporation is the identification and evaluation of assets or businesses with a view to completing a "Qualifying Transaction" as defined by the policies of the Exchange. The funds raised under the Offering will be used to pursue such Qualifying Transaction. Investors are cautioned that trading in the securities of a capital pool company should be considered highly speculative.
Upon completion of the Offering the following shareholders received common shares and hold more than 10% of the common shares (post consolidation).
|Name and Municipality of Residence||Number of Company Shares Owned||Percentage of Company Shares Held||Type of Ownership|
|David M. Antony, Calgary, AB||600,000||10% (non-diluted) (1)(2)||Direct|
|Michael Bowie, Calgary, AB||600,000||10% (non-diluted) (1)(3)||Direct|
|Charidy, Lazorko, Calgary, AB||600,000||10% (non-diluted) (1)(4)||Direct|
|Trevor Wong-Chor, Calgary, AB||600,000||10% (non-diluted) (1)(5)||Direct|
- Upon completion of the Offering, there are 6,000,000 Common Shares issued and outstanding.
- David Antony was granted at Closing a total 250,000 Options, each exercisable to acquire one common share at a price of $0.10 per common share.
- Michael Bowie was granted at Closing a total 100,000 Options, each exercisable to acquire one common share at a price of $0.10 per common share.
- Charidy Lazorko was granted at Closing a total 150,000 Options, each exercisable to acquire one common share at a price of $0.10 per common share.
- Trevor Wong-Chor was granted at Closing a total 100,000 Options, each exercisable to acquire one common share at a price of $0.10 per common share.
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For further information, contact David Antony, CEO, President and Director of the Corporation at:
Electronic mail: firstname.lastname@example.org
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