88 Capital Ltd. Proposes Share Consolidation and Private Placement
88 CAPITAL CORP.
SUITE 1500 – 885 WEST GEORGIA STREET VANCOUVER BRITISH COLUMBIA V6C 3E8
NEWS RELEASE
88 CAPITAL LTD. PROPOSES SHARE CONSOLIDATION AND PRIVATE PLACEMENT
Vancouver, B.C. March 17, 2014 - 88 Capital Corp. (TSX.V: EEC) (the "Company") today announced that the directors of the Company have approved a consolidation of the share capital of the Company on a basis of one new share for every 8 old shares. The share consolidation is subject to the approval of the TSX Venture Exchange. The proposed consolidation will allow the Company to seek financing at thenprevailing market prices, enabling the Company to move forward with its business objectives.
The Company currently has 11,697,500 shares issued and outstanding pre-consolidation which will result in approximately 1,462,188 shares outstanding following the consolidation.
The Company also announces, subject to Exchange approval, a private placement financing on a postconsolidated basis of up to 10,000,000 units at $0.06 per unit for gross proceeds of up to $600,000. The Company intends to use proceeds from the financing for general working capital. Each unit will consist of one post-consolidated common share and one transferrable post-consolidated common share purchase warrant. Each warrant will be exercisable into a further common share of the Company at a price of $0.08 per share for a period of five (5) years from closing.
ON BEHALF OF THE BOARD
88 Capital Corp.
Mr. Greg Amor, Director
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This News Release may contain forward-looking statements including, but not limited to, comments regarding the timing and content of upcoming work programs, geological interpretations, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statement.
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