Sinomar Capital Corp.

August 01, 2008 17:18 ET

Sinomar Capital Corp. Completes Initial Public Offering

CALGARY, ALBERTA--(Marketwire - Aug. 1, 2008) - Sinomar Capital Corp. (the "Corporation"), a capital pool company, is pleased to announce it has successfully completed its initial public offering (the "Offering") of 1,666,600 common shares ("Common Shares") at a price of $0.30 per share for gross proceeds of $499,980. Wolverton Securities Ltd. acted as lead agent for the Offering. Subsequent to the issuance of the Common Shares pursuant to the Offering, the Corporation has 3,176,900 Common Shares issued and outstanding. The Corporation has also granted options to acquire an aggregate of 317,690 Common Shares, at an exercise price of $0.30 per share, to directors of the Corporation, which options will expire 5 years from the date of grant. In addition, the Corporation has granted to the agent under the Offering, Wolverton Securities Ltd., and to its sub-agents, options (collectively the "Agent's Option") to acquire in the aggregate 166,660 Common Shares at an exercise price of $0.30 per share. The Agent's Option will expire 24 months from the date the Corporation's Common Shares are listed for trading on the TSX Venture Exchange (the "Exchange"). The Exchange has accepted for listing the Corporation's Common Shares and trading will commence on August 5, 2008 under the stock symbol SMM.P.

Investors are cautioned that trading in the securities of a capital pool company should be considered highly speculative.

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

Contact Information

  • Sinomar Capital Corp.
    Alan P. Chan
    Secretary and Chief Financial Officer
    (403) 229-2337