Red Mile Capital Corp.

November 06, 2007 13:16 ET

Red Mile Capital Corp. Announces Closing of Initial Public Offering (CPC)

CALGARY, ALBERTA--(Marketwire - Nov. 6, 2007) - Red Mile Capital Corp. (the "Corporation") is pleased to announce that it has completed its initial public offering of 4,000,000 common shares, at a price of $0.20 per common share, for aggregate gross proceeds of $800,000 (the "IPO") and has filed for listing as a Capital Pool Company on the TSX Venture Exchange (the "TSXV"). Northern Securities Inc. acted as agent on the IPO. Subject to the fulfillment of all TSXV requirements, it is expected that the common shares of the Corporation will commence trading on the TSXV on or about Monday, November 12, 2007 under the trading symbol "RDM.P".

As a result of the closing of the IPO, the Corporation now has 6,200,000 common shares issued and outstanding with 400,000 common shares reserved for issuance pursuant to the exercise of agent's options and 620,000 common shares issuable upon the exercise of stock options.

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

Contact Information

  • Red Mile Capital Corp.
    Larry Whitehead
    President and Chief Executive Officer
    (604) 542-2223