SPVC Capital Corporation

November 02, 2007 11:23 ET

SPVC Capital Corporation Completes $300,000 Initial Public Offering

SASKATOON, SASKATCHEWAN--(Marketwire - Nov. 2, 2007) - SPVC Capital Corporation (the "Corporation") (TSX VENTURE:SPV.P) announced today that it has completed its initial public offering (the "Offering") of 1,500,000 Class A common shares (the "Shares") at a price of $0.20 per Share for aggregate gross proceeds of $300,000. The Offering was made pursuant to a prospectus dated October 12, 2007 filed with the Saskatchewan Financial Services Commission, The Manitoba Securities Commission, and the Alberta Securities Commission. Wellington West Capital Inc. (the "Agent") acted as agent for the Offering on a best-efforts basis.

The Shares are expected to begin trading on the TSX Venture Exchange (the "Exchange") on or about November 7, 2007 under the symbol "SPV.P". The Corporation is a "capital pool company" as defined in the policies of the Exchange. As such, the Corporation will not carry on any business other than the identification and evaluation of assets or businesses for the purposes of completing a proposed Qualifying Transaction (as such term is defined in the policies of the Exchange).

The Corporation's management team is comprised of Charles LePage, President, Chief Executive Officer and Chief Financial Officer and Todd Rosenberg, Secretary and Treasurer. In addition to Charles LePage and Todd Rosenberg, the Corporation's board of directors is rounded out by Russel Marcoux, Greg Yuel and Betty-Ann Heggie.

In exchange for its services, the Agent received a total commission of 10% of the Offering proceeds, or $30,000, and options to purchase 150,000 Shares for a period of 24 months from the date hereof at a price of $0.20 per Share.

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

Contact Information

  • SPVC Capital Corporation
    Charles LePage, President,
    Chief Executive Officer and Chief Financial Officer
    (306) 934-7008