Rodocanachi Capital Inc.
TSX VENTURE : ROD.P

August 27, 2009 21:17 ET

Rodocanachi Capital Inc.: Closing of Initial Public Offering and Listing on the TSX Venture Exchange

MONTREAL, QUEBEC--(Marketwire - Aug. 27, 2009) - NOT FOR DISTRIBUTION IN THE UNITED STATES OR THROUGH UNITED STATES WIRE SERVICES

Rodocanachi Capital Inc. (TSX VENTURE:ROD.P) (the "Corporation"), a Capital Pool Company, is pleased to announce that it has completed, through Jones, Gable & Company Limited (the "Agent"), its initial public offering for 5,000,000 Class "A" common shares (the "Common Shares"), at an offering price of $0.10 per Common Share for total gross proceeds of $500,000, the whole pursuant to a final prospectus dated July 23, 2009 filed with the securities commissions of the provinces of Ontario and Quebec. Following closing of the public offering, 7,800,000 Common Shares of the Corporation are issued and outstanding. In connection with the public offering, the Corporation paid the Agent a cash commission of $50,000 and granted the Agent an option entitling the Agent to acquire an aggregate of up to 500,000 common shares (the "Agents Options") at an exercise price of $0.10 per share. The Agent's Option will expire 24 months from the date the Common Shares are listed on the TSX Venture Exchange (the "Exchange").

The gross proceeds received by the Corporation from the public offering will be used, after deducting the expenses incurred for the public offering, to identify and evaluate a limited number of assets and businesses for the completion of a Qualifying Transaction, as defined in the Exchange's Policy 2.4.

The Common Shares will be listed and posted for trading on the Exchange shortly, upon delivery of satisfactory documentation to the Exchange and the issuance of the Exchange's bulletin approving the listing. The Corporation's trading symbol is ROD.P.

The Corporation also granted stock options to each of its six (6) directors entitling each of them to purchase up to 130,000 Common Shares at a price of $0.10 per Common Share, for an aggregate number of 780,000 stock options representing 10% of the issued and outstanding Common Shares, the whole in accordance with terms and conditions of the Stock Option Plan of the Company and the Exchange's rules.

"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

  • Rodocanachi Capital Inc.
    Mr. Richard Besner
    President and Chief Executive
    514-824-5434