Abcana Capital Inc. (TSX-V: ABQ.H) Completes $100,000 Financing
910 – 1050 West Pender Street Vancouver, B.C. V6E 3S7
Abcana Capital Inc. (TSX-V: ABQ.H) Completes $100,000 Financing
May 2, 2014. Abcana Capital Inc. (“Abcana”) (TSX-V: ABQ.H) is pleased to announce that it has closed its private placement financing by issuing 1,000,000 common shares at $0.10 per share for gross proceeds of $100,000.
In connection with the proceeds raised under the financing, Abcana paid finders cash commissions totaling $6,400 and issued 80,000 non-transferable share purchase warrants. Each finder’s share purchase warrant entitles the holder to acquire one common share of Abcana at a price of $0.17 per share for a period of one year from the date of issue.
The shares issued under the financing will be subject to a hold period expiring on September 1, 2014, pursuant to applicable Canadian securities laws and rules of the TSX Venture Exchange.
Proceeds of the financing will be used for identifying business acquisitions as well as for general working capital and corporate purposes.
On behalf of the Board of Directors, Robert Hall, Chief Executive Officer and President
For further information please contact:
Abcana Capital Inc.
910 – 1050 West Pender Street Vancouver, B.C. V6E 3S7 Robert Hall CEO and President T: (604) 999-5554
Forward-Looking Statements
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Abcana cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Abcana’s control. Such factors include, among other things: risks and uncertainties relating to Abcana’s limited operating history. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, Abcana undertakes no obligation to publicly update or revise forward-looking information.
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.