Seashore Closes Initial Public Offering
SEASHORE RESOURCE PARTNERS CORP.
Suite 800, 1199 West Georgia Street
Vancouver, B.C. V6E 3T5
SEASHORE CLOSES INITIAL PUBLIC OFFERING
October 4, 2018 TSX Venture Exchange
Trading Symbol: SSH.P
Seashore Resource Partners Corp. (the “ Company”), a capital pool company
pursuant to Policy 2.4 of the TSX Venture Exchange (the “ TSX-V”), is pleased to
announce that on October 4 , 2018 , it completed its initial public offering of
2,100,000 common shares issued at a price of $0.10 per share pursuant to a
prospectus dated August 22, 2018 (the “Prospectus”).
A cash commission of 8 % of the gross proceeds of the offering was paid to the
Company’s agent, Haywood Securities Inc. (“ Haywood”), as well as a corporate
finance fee of $ 8,000 plus applicable taxes. In addition, Haywood received 42,000
non-transferable warrants to acquire up to 42,000 shares at a price of $0.10 per
Share for a period of 24 months.
The Company will use the net proceeds from the offering for examination and
possible participation in, or acquisition of, assets or businesses with a view to
completing a “Qualifying Transaction” under the capital pool company program
of the TSX-V.
As a result of this issuance, the Company has 5,200,000 shares issued and
outstanding, of which 3,100,000 share s have been placed in escrow . The
Company’s common shares were listed for trading on the TSX Venture Exchange
under the trading symbol “ SSH.P” on October 4, 2018 and are expected to
commence trading on a date as determined by the TSX Venture Exchange.
The Company has also granted an aggregate of 400,000 incentive stock options to
its directors, officers and certain technical consultants, as outlined in the
Prospectus, each such option exercisable at a price of $0.10 per share for a period of
five years, vesting immediately.
On behalf of the Board of Directors
Hugh Rogers
President and Chief Executive Officer
Telephone: (604).650.6162
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 ability of the Company to complete a
qualifying transaction. 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 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.