Naina Capital Corp. announces closing of Initial Public Offering
NAINA CAPITAL CORP. NEWS RELEASE 1575 Kamloops Street TSX Venture Exchange Vancouver, BC V5K 3W1 Trading Symbol: NAA.P
Naina Capital Corp. announces closing of Initial Public Offering
March 16, 2010 – Vancouver, British Columbia – Naina Capital Corp. (the “Company” or “Naina”) is pleased to report that it has successfully completed its initial public offering of 2,000,000 common shares at $0.10 per share for gross proceeds of $200,000 pursuant to a prospectus dated December 11, 2009. Wolverton Securities Ltd. (“Wolverton”) acted as agent for the offering. Wolverton received a cash commission of 10% of the gross proceeds of the offering and the Company granted agent’s options to Wolverton and other participating agents to purchase up to an aggregate of 200,000 common shares at a price of $0.10 per share exercisable for a period of 24 months from the date the Company’s common shares are listed on the TSX Venture Exchange (the “Exchange”).
The Company’s common shares have been conditionally approved for listing on the TSX Venture Exchange. The Company expects its common shares will commence trading on March 17, 2010 under the symbol
NAA.P
ABOUT NAINA
Naina is a capital pool company (“CPC”) within the meaning of the policies of the TSX Venture Exchange. The Company has not commenced operations and has no assets other than cash. The Company proposes to identify and evaluate businesses and assets with a view to completing a “Qualifying Transaction” under the Exchange’s CPC policies. The funds raised under the initial public offering will be used to pursue the Company’s Qualifying Transaction.
For further information, please contact Navin Varshney, Chief Executive Officer at:
NAINA CAPITAL CORP.
1575 Kamloops Street Vancouver, BC V6K 3W1
Telephone: 604-251-6320 Facsimile: 604-251-6320
"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."
AC/589416.1