CT Developers Ltd. Announces Private Placement _______________________________________________________
1764 Rathburn Road East, Unit1 Mississauga, Ontario, L4W 2N8 _______________________________________________________
NEWS RELEASE
CT Developers Ltd. Announces Private Placement _______________________________________________________
April 3, 2018 – Vancouver, British Columbia (TSX-V:DEV.H) CT Developers Ltd. ("CT" or the "Company"), a capital pool company, announces a working capital private placement in order to facilitate the anticipated closing costs of the Qualifying Transaction announced November 27, 2017.
The Company has arranged a non-brokered private placement of up to $120,000 by the issuance of 631,579 units (“Units”) at a price of $.19 per Unit.
Each Unit will consist of one common share (a “Share”) and one common share purchase warrant (a “Warrant”). Each Warrant will entitle the Subscriber to purchase an additional Share at a price of $0.25 cents for 12 months. All securities will be subject to a statutory hold period of 4-months from closing.
The Private Placement remains subject to regulatory approval.
Trading Halt
The shares of CT remain halted and it is expected that they will remain halted until completion of the previously announced proposed qualifying transaction (the “Proposed Transaction”).
Other Information and Updates
CT will provide further details in respect of the Proposed Transaction in accordance with Exchange Policy 2.4 in due course and, in any event, prior to the resumption of trading.
For further information please contact:
Norman Eyolfson,
President &, Chief Executive Officer
Phone: (416) 884-8601
Statements in this press release regarding CT's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties, such as terms and completion of the Proposed Transaction. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements.
COMPLETION OF THE PROPOSED TRANSACTION IS SUBJECT TO A NUMBER OF CONDITIONS, INCLUDING BUT NOT LIMITED TO, EXCHANGE ACCEPTANCE. THERE CAN BE NO ASSURANCE THAT THE PROPOSED TRANSACTION WILL BE COMPLETED AS PROPOSED OR AT ALL.
INVESTORS ARE CAUTIONED THAT, EXCEPT AS DISCLOSED IN THE FILING STATEMENT TO BE PREPARED IN CONNECTION WITH THE TRANSACTION, ANY INFORMATION RELEASED OR RECEIVED WITH RESPECT TO THE PROPOSED TRANSACTION MAY NOT BE ACCURATE OR COMPLETE AND SHOULD NOT BE RELIED UPON. TRADING IN THE SECURITIES OF A CAPITAL POOL COMPANY SHOULD BE CONSIDERED HIGHLY SPECULATIVE.
THE EXCHANGE HAS IN NO WAY PASSED UPON THE MERITS OF THE PROPOSED TRANSACTION AND HAS NEITHER APPROVED NOR DISAPPROVED THE CONTENTS OF THIS PRESS RELEASE.
NEITHER THE 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.