71 Capital Corp.
TSX VENTURE : SVN.P

December 18, 2008 16:30 ET

71 Capital Corp. Announces Closing of Initial Public Offering

TORONTO, ONTARIO--(Marketwire - Dec. 18, 2008) - 71 Capital Corp. (the "Company") (TSX VENTURE:SVN.P) is pleased to announce that it has completed its initial public offering of 3,050,600 common shares at the price of $0.10 per common share for total gross proceeds of $305,060 and has filed for listing as a Capital Pool Company on the TSX Venture Exchange. Standard Securities Capital Corporation acted as agent on the offering. The Company will be file its final documentation for listing of the common shares on the TSX Venture Exchange forthwith and upon receipt of final approval the common shares will trade under the symbol "SVN.P".

As a result of the closing of this offering, the Company now has 5,390,600 common shares issued and outstanding (2,340,000 of which are subject to escrow restrictions), 305,060 reserved for issuance upon the exercise of options granted to Standard Securities Capital Corporation and its sub-agents and 539,600 common shares reserved for issuance upon the exercise of stock options. The Company's board of directors and management team is comprised of the following individuals: Greg Hewitt (Director, President and Chief Executive Officer), A. George Matthew (Director, Chief Financial Officer and Secretary), Eric Roblin (Director), Mark Crossett (Director) and Kirk Brennen (Director).

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Contact Information

  • 71 Capital Corp.
    Eric Roblin
    Director
    (416) 941-8811