Active Growth Capital Inc.
TSX VENTURE : ACK

February 24, 2015 16:26 ET

Active Growth Capital Announces Closing of $250,000 Private Placement

VAL D'OR, QUEBEC--(Marketwired - Feb. 24, 2015) - Active Growth Capital Inc. (TSX VENTURE:ACK) ("ACK" or the "Corporation") is pleased to announce that it has closed the final tranche of its previously announced private placement of 5,000,000 units ("Unit") at a price of $0.05 per Unit for aggregate gross proceeds of $250,000 (the "Private Placement"). The Common Shares and the Warrants issued in connection with the completion of the second tranche of the Offering are subject to a hold period until June 24, 2015.

Each Unit consists of one (1) common share (a "Share") of the Corporation and one (1) Share purchase warrant (a "Warrant"). Each Warrant entitles the holder thereof to purchase (1) one additional Share for a period of two (2) years from from issuance at a price of $0.10 per Share.

A portion of the Private Placement constituted a related party transaction within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 ("MI 61-101") as insiders of the Corporation subscribed for an aggregate of 2,900,000 Units. The Corporation is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, as the fair market value of the participation in the Private Placement by insiders does not exceed 25% of the market capitalization of the Corporation, as determined in accordance with MI 61-101. The Corporation did not file a material change report in respect of the related party transaction at least 21 days before the closing of the first tranche of the private placement, which the Corporation deems reasonable in the circumstances so as to be able to avail itself of the proceeds of the private placement and complete the Private Placement in an expeditious manner.

3,750,000 Common Shares and Warrants issued in connection with the completion of the Private Placement are subject to a hold period until June 14, 2015 and 1,250,000 until June 24, 2015.

About Active Growth Capital

Active Growth is a TSX listed junior mineral exploration issuer whose long-term objective is to build a diversified company focused on the acquisition, exploration and development of mineral properties. Additional information about the Corporation is available on SEDAR at www.sedar.com.

Neither the 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 of this release.

Contact Information

  • Active Growth Capital
    Marc Labrecque
    President and CEO
    (819) 825-0001