Growthgen Equity Inc.

May 29, 2006 11:13 ET

Growthgen Equity Inc.: Press Release

TORONTO, ONTARIO--(CCNMatthews - May 29, 2006) - Growthgen Equity Inc. ("Growthgen") -Craig Leon, President, is pleased to announce the completion on May 26, 2006 of Growthgen's Initial Public Offering of 3,586,700 common shares at $0.30 per common share by way of Prospectus dated March 30, 2006 filed in the Provinces of Alberta, British Columbia, Ontario and Saskatchewan for gross proceeds of $1,076,101.

The Corporation is a Capital Pool Company as defined in the policies of the TSX Venture Exchange Inc. (the "Exchange"). To date, Growthgen has not conducted operations of any kind and has not entered into an "Agreement in Principle", as such phrase is defined in Exchange Policy 2.4.

Blackmont Capital Inc. acted as agent in connection with the offering. For its services, Blackmont received a cash commission and options to purchase 358,670 common shares of the Corporation at an exercise price of $0.30 per common share, exercisable within 24 months from listing. All options were granted in accordance with the policies of the Exchange.

The Exchange conditionally accepted the listing of Growthgen's common shares on March 21, 2006. Final acceptance is subject to the Corporation fulfilling all of the requirements of the Exchange.

This press release includes certain "Forward-Looking Statements" within the meaning of the US Private Securities Reform Act of 1995. Other than statements of historical fact, all statements are "Forward-Looking Statements" that involve such various known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove accurate. Results and future events could differ materially from those anticipated in such statements. Readers of this press release are cautioned not to place undue reliance on these "Forward-Looking Statements". All dollar amounts are Canadian dollars unless otherwise noted.

Neither the TSX Venture Exchange, nor any other securities regulatory authority has approved or disapproved of the contents of this news release.

Contact Information

  • Growthgen Equity Inc.
    Craig Leon
    (416) 368-4397