Golcap Closes Initial Public Offering
GOLCAP RESOURCES CORP.
400-601 West Broadway
Vancouver, BC, V5Z 4C2
GOLCAP CLOSES INITIAL PUBLIC OFFERING
December 22, 2020 Canadian Securities Exchange
Trading Symbol: GCP
Golcap Resources Corp. (the “ Company”) is pleased to announ ce that it has
completed its initial public offering of 2,875,000 units (each a “ Unit”) issued at a
price of $0. 10 per Unit, w hich include d the exercise in full of an over -allotment
option. This generated aggregate gross proceeds of $ 287,500 pursuant to a
prospectus dated November 12, 2020 (the “Prospectus”).
Each Unit is comprised of one common share of the Company (each a “ Share”)
and one common share purchase warrant (each a “ Warrant”). Each Warrant
entitles the holder to acquire one additional Share at an exercise price of $0.30 per
Share until December 22, 2021 . The Warrants ar e issued pursuant to a warrant
indenture dated December 22, 2020 between the Company and its warrant agent ,
Odyssey Trust Company . A copy of which is available under the Company’s
profile on SEDAR at www.sedar.com.
A commission equal to 10% of the gross proceeds of the offering was paid to the
Company’s agent, Haywood Securities Inc. (the “Agent”), through the issuanc e of
an aggregate of 287,500 Units , as well as a corporate financ e fee of $ 20,000, plus
applicable taxes and an advisory f ee of 1,000,000 common shares. In addition, the
Agent and its selling group members received 287,500 non-transferable agent’s
options to acquire up to 287,500 Shares at a price of $0.10 per Share until December
22, 2021.
The Company will use the net proceeds from the offering in furtherance of its short
term business objectives as outlined i n the Prospectus. A copy of the Prospectus is
available under the Company’s profile on SEDAR at www.sedar.com.
The Company’s common shares are listed for trading on the CSE under the trading
symbol “GCP” on December 22, 2020 and are expected to commence trading on or
about December 23, 2020.
The Company also granted an aggregate of 1,660,000 incentive stock options to its
directors and officers as outlined in the Prospectus. Each option is exercisable at a
price of $0.10 per share for a period of five years, vesting immediately.
The securities of the Company have not been and will not be re gistered under the
United States Securities Act of 1933, as amended ( the “U.S. Securities Act”) or any
state securities laws. Accordingl y, the securities o f the Company m ay not be
offered or sold within the United States unless registered under the U.S. S ecurities
Act and applicable state securities laws or pursuant to an exemption from the
registration requirements of the U.S. Securities Act and applicable state securities
laws. This news release does not constitute an offer to sell or a solicitation of any
offer to buy any securities of the Company in any jurisdiction in which such offer,
solicitation or sale would be unlawful.
On behalf of the Board of Directors
Gordon Lam
President and Chief Executive Officer
Telephone: (604) 675-2011
The information in this news release includes certain information and statements about management's
view of future events, expectations, plans and prospects that constitute forward looking statements.
These statements are based upon assumptions that are subject to significant risks and uncertainties.
Because of these risks and uncertainties and as a result of a variety of factors, the actual results,
expectations, achievements or performance may differ materially from those anticipated and indicated
by these forward looking statements. Forward-looking statements in this news release include, but are
not limited to, the Company’s proposed use of the proceeds of its initial public offering. Any number
of factors could cause actual results to differ materially from these forward-looking statements as well
as future results. Although the Company believes that the expectations reflected in forward looking
statements are reasonable, it can give no assurances that the expectations of any forward looking
statements will prove to be correct. Except as required by law, the Company disclaims any intention
and assumes no obligation to update or revise any forward looking statements to reflect actual results,
whether as a result of new information, future events, changes in assumptions, changes in factors
affecting such forward looking statements or otherwise.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy
or accuracy of this release.