Ananda Capital Corp.

February 02, 2010 15:09 ET

Ananda Capital Corp. Completes Initial Public Offering

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 2, 2010) - Ananda Capital Corp. (the "Corporation") is pleased to announce that it has successfully completed its initial public offering (the "Offering") of 1,200,000 common shares (the "Common Shares") at a price of $0.20 per share for gross proceeds of $240,000 with Haywood Securities Inc. ("Haywood"), as agent. As a result of this issuance, the Corporation now has 2,320,000 Common Shares issued and outstanding.

In connection with the Offering, the Corporation granted warrants to Haywood to acquire an aggregate of 100,000 Common Shares (the "Agent's Warrant") at an exercise price of $0.20 per warrant. The Agent's Warrant will expire 24 months from the date the Common Shares are listed on the TSX Venture Exchange Inc. (the "Exchange"). Haywood also received a cash commission equal to 7.5% of the gross proceeds of the Offering and a corporate finance fee.

The Corporation has also granted options to acquire an aggregate of 150,000 Common Shares at an exercise price of $0.20 per option to the directors and officers of the Corporation, which expire 5 years from the date of grant.

The Corporation is a capital pool company under the policies of the Exchange. The Exchange has conditionally approved the listing of the Common Shares and the Corporation now intends to make application for final approval. It is expected that the Common Shares will commence trading on the Exchange under the trading symbol "ANN.P".

Investors are cautioned that trading in the securities of a capital pool company should be considered highly speculative.

Neither the 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.

Contact Information

  • Ananda Capital Corp.
    A Murray Sinclair
    President and Chief Executive Officer
    (604) 689-1428
    (604) 681-4692 (FAX)