Capricorn Business Acquisitions Inc.

February 26, 2010 19:03 ET

Capricorn Business Acquisitions Inc. Announces Closing of Initial Public Offering

TORONTO, ONTARIO--(Marketwire - Feb. 26, 2010) - Capricorn Business Acquisitions Inc. ("Capricorn") is pleased to announce that it has completed its initial public offering of 5,744,400 common shares at the price of $0.10 per common share for total gross proceeds of $574,440 and has filed for listing as a Capital Pool Company on the TSX Venture Exchange. Leede Financial Markets Inc. acted as lead agent on the offering. The common shares of Capricorn are expected to commence trading on the TSX Venture Exchange at the opening of markets on or about March 2, 2010 under the trading symbol "CAK.P".

As a result of the closing of this offering, Capricorn now has 8,644,400 common shares issued and outstanding (2,900,000 of which are subject to escrow restrictions), 574,440 reserved for issuance upon the exercise of options granted to Leede Financial Markets Inc. and its sub-agents, and 864,440 common shares reserved for issuance upon the exercise of stock options. Capricorn's board of directors and management team is comprised of the following individuals: Yvan Routhier (President, Chief Executive Officer and Director), Gary Hokkanen (Chief Financial Officer, Secretary and Director), Mendel Ekstein (Director), Gerald Goldberg (Director), Norman L. Goldman (Director), Statis Rizas (Director) and Julio DiGirolamo (Director).

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

Contact Information

  • Capricorn Business Acquisitions Inc.
    Gary Hokkanen
    Chief Financial Officer
    (905) 709-7057