Osia Ventures Ltd.

January 19, 2010 09:15 ET

Osia Ventures Ltd. Closes IPO

VANCOUVER, BRITISH COLUMBIA--(Marketwire – Jan. 19, 2010) – Osia Ventures Ltd. ("Osia" or the "Company") is pleased to announce that it has completed its initial public offering of 4,000,000 common shares at a price of $0.10 per share. The TSX Venture Exchange (the "Exchange") has conditionally approved the listing of Osia as a capital pool company, and trading in the company's shares under the symbol OSA is expected to commence on January 20, 2010. The Company has paid Canaccord Financial Ltd., as agent, a cash commission equal to 10% of the gross proceeds of the offering as well as an administration fee. The Company has also issued agent's warrants for the purchase of up to a total of 400,000 common shares of the Company, exercisable at $0.10 per share, expiring 24 months from the date the shares are listed on the Exchange. The Company also granted the agent the right of first refusal to provide any further brokered financing of equity or securities convertible into equity, and to provide sponsorship services for any Qualifying Transaction. The right of first refusal is for a period of 24 months from the date the shares are listed on the Exchange.

Osia also reports that it has issued stock options to its directors and officers for the purchase of up to a total of 905,000 common shares, exercisable at $0.10 per share for a period of five years from the date Osia's shares are listed on the Exchange.


IAT WAI CHAN, President & CEO

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.

Contact Information

  • Osia Ventures Ltd.
    Iat Wai Chan
    President & CEO