Pocono Capital Inc.

November 07, 2007 16:15 ET

Pocono Capital Inc. Announces the Closing of Its Initial Public Offering in Ontario, Alberta and British Columbia

TORONTO, ONTARIO--(Marketwire - Nov. 7, 2007) - Pocono Capital Inc. ("Pocono"), a Capital Pool Company, is pleased to announce the closing of its initial public offering of 2,300,000 class A common Shares at a price of $0.20 per share for a total amount of $460,000 to investors in Ontario, Alberta and British Columbia. Pope & Company Limited ("Pope") acted as agent for Pocono.

In accordance with Policy 2.4 of the TSX Venture Exchange inc. (the "TSX-V"), the Class A Common Shares of Pocono will be admitted for trading on the TSX-V under the ticker symbol ONO.P at the opening of the market on November 9, 2007.

In connection with the offering, Pope received a cash commission of $46,000, a corporate finance fee of $25,000 plus taxes, as well as an option to acquire 230,000 class A common shares at a price of $0.20 per share. The option may be exercised for a period of 24 months.

Members of the Board of Directors

Pocono's President and Secretary-treasurer are respectively Mr. Robert Hashimoto and Mr. Anthony DeCristofaro. Members of the Board also include Messrs. John Milani, Peter Bordignon and Phil Bond. Complete bios of Pocono's board members are available at:

http://sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00025684

Robert Hashimoto, 44, President, Chief Executive Officer and Director, is President of Duplium Corp., a company he founded in 1987. Duplium manufacturers CD and DVD, provides complete package and distribution solutions. Mr. Hashimoto has also been involved in the technology sector, having co-founded Caught in the Web (later Personus) in 1997, and Diginara (Canada) Corp in 2000.

Anthony DeCristofaro, 54, Secretary-treasurer, Chief Financial Officer and Director, is President and Chief Executive Officer of iseemedia inc. since 2002. He is a 25-year veteran in the computer industry. Prior to establishing iseemedia, he was President and Chief Executive Officer of MGI Software since December 1995. He was a founding board member of Delrina Corp., which was subsequently purchased by Symantec. From 1991 to 1995, Mr. DeCristofaro was Vice President and General Manager of AST Canada, a computer hardware company. From 1987 to 1991, Mr. DeCristofaro worked as General Manager at NEC Canada, a computer hardware company. Mr. DeCristofaro holds an Advanced Business Administration degree from York University.

John Milani, 39, Director, is a Director of Sales with Electrolux Major Appliances Canada. He joined Electrolux in 1999. Prior to that, Mr. Milani was in National Sales Management for Sanyo Canada (Consumer Electronics) since 1994. He graduated from Ryerson University, Toronto, in 1990 with a Bachelor of Business Management. He has over 17 years of sales and marketing experience, of which 13 years has been focused on major retailers throughout Canada as well as the US.

Peter Bordignon, 41, Director, is President and General Manager of PPG Advertising, a division of The Printing & Promotion Group of Companies, a company specialized in full colour printing, advertising and wide format applications to National Manufactures and Retailers. He is a 15-year veteran in the advertising industry. Prior to establishing PPG Group in 1997, he was President of MC Concepts, consulting to the grocery and home entertainment industries. From 1987 to 1994, Mr. Bordignon held positions with CBS New York, Twentieth Century Fox Filmed Entertainment and held the position of Director of Retail Operations on the board of Jumbo Video.

Phil Bond, 55, Director, is the President and owner of Positive Marketing A/V Ltd., a national distributor in the custom audio video electronics industry, which he founded in 1989. Mr. Bond has worked in this industry for the past 37 years. His career has also included being on the board of directors of CEDIA (Custom Electronics Design Industry Association), an international trade association of companies that specialize in designing and installing electronic systems for the home.

Profile

Pocono intends to identify and evaluate businesses and assets with a view to completing a qualifying transaction as provided for in the TSX-V's Policy 2.4. With the initial public offering having now been completed, Pocono wishes to complete a qualifying transaction within the software or knowledge-based sector without, however, excluding the possibility of effecting such transaction within a different sector of activity.

The TSX Venture Exchange Inc. does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Pocono Capital Inc.
    Robert Hashimoto
    President
    (905) 709-9930