Constitute an Offer of the Securities Described Herein.
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN.
BENZ CAPITAL CORP.
Suite 900, 570 Granville Street Vancouver, BC V6C 3P1
News Release TSXV: BZ.P
Benz Capital Corp. Announces Closing of Private Placement
October 18, 2012 – Vancouver, British Columbia – Benz Capital Corp. (the "Corporation" or "Benz") is pleased to announce that it has closed its previously announced non-brokered private placement for gross proceeds of $119,992 (the "Private Placement").
A total of 799,952 common shares in the capital of the Company (each, a "Common Share"), at a price of $0.15 per Common Share, were issued in the Private Placement. All of the Common Shares issued are subject to a hold period expiring February 19, 2013.
The net proceeds from the Private Placement will be used to fund the identification and completion of a Qualifying Transaction.
About the Corporation
The Corporation is designated as a Capital Pool Company by the Exchange. The Corporation has not commenced commercial operations and has no assets other than cash. The only business of the Corporation is the identification and evaluation of assets or businesses with a view to completing a "Qualifying Transaction" in accordance with Exchange Policy 2.4 - Capital Pool Companies.
For further information, please contact Miloje Vicentijevic, President and Chief Executive Officer at:
Suite 900, 570 Granville Street Vancouver, BC V6C 3P1 Telephone: 604.682.3701 #242 Facsimile: 604.682.3600
This news release contains statements about the Corporation's expectations regarding the Private Placement that are forward- looking in nature and, as a result, are subject to certain risks and uncertainties. Although the Corporation believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them as actual results may differ materially from the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include failure to complete the Private Placement. The forward-looking statements contained in this news release are made as of the date hereof, and the Corporation undertakes no obligation to update publicly or revise any forward-looking statements or information, except as required by law.
Neither the 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.
This news release does not constitute and the subject matter hereof is not, an offer for sale or a solicitation of an offer to buy, in the United States or to any "U.S Person" (as such term is defined in Regulation S under the U.S. Securities Act of 1933, as amended (the "1933 Act")) of any equity or other securities of Benz Capital Corp. The securities of Benz Capital Corp. have not been registered under the 1933 Act and may not be offered or sold in the United States (or to a U.S. Person) absent registration under the 1933 Act or an applicable exemption from the registration requirements of the 1933 Act.