Rider Investment Capital Corp. Announces Closing of Initial Public Offering
Rider Investment Capital Corp. Announces Closing of Initial
Public Offering
/NOT FOR DISSEMINATION IN
THE UNITED STATES
OR THROUGH U.S. NEWS WIRES/
CALGARY
,
May 18, 2018
/CNW/ - RIDER INVESTMENT CAPITAL CORP. (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
May 18, 2018
closed its initial public offering of 2,500,000 common shares at
$0
.10 per share for aggregate gross proceeds of
$250
,000 through
Canaccord Genuity Corp., which acted as agent for the Corporation (the "Offering"). The Corporation expects that trading will commence on, or
about,
May 23, 2018
under the symbol "RDR.P".
Upon closing of the Offering, the Corporation granted 450,000 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 250,000
options to Canaccord Genuity Corp., 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
4,500,000 common shares issued and outstanding (2,000,000 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.
Under the Exchange's policies, the Corporation has 24 months to identify and close a Qualifying Transaction. Investors are cautioned that trading
in the securities of a capital pool company should be considered highly speculative.
THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS
SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES
, AND DOES NOT CONSTITUTE AN OFFER TO SELL OR
A SOLICITATION OF AN OFFER TO SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN
THE UNITED STATES
.
THESE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER
THE UNITED STATES
SECURITIES
ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN
THE
UNITED STATES
OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.
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 RELEASE.
SOURCE
Rider Investment Capital Corp.
View original content: http://www.newswire.ca/en/releases/archive/May2018/18/c5728.html
%SEDAR: 00044947E
For further information:
contact David Antony, CEO, President and Director of the Corporation at: Electronic mail: [email protected]
CO: Rider Investment Capital Corp.
CNW 17:33e 18-MAY-18