Active Growth Capital
TSX VENTURE : ACK

September 30, 2014 08:00 ET

Active Growth Capital Announces Non Brokered Private Placement

VAL D'OR, QUEBEC--(Marketwired - Sept. 30, 2014) - Active Growth Capital Inc. (TSX VENTURE:ACK) ("ACK" or the "Corporation") announces that it intends to complete a non-brokered private placement (the "Private Placement") of up to 5,000,000 units (the "Units") at a price of CDN$0.10 per Unit for gross proceeds to the Corporation of up to CDN$500,000, of which management and certain insiders have already committed to an aggregate of CDN$100,000. Each Unit will consist of one (1) common share and one (1) common share purchase warrant (a "Warrant"), with each Warrant entitling the holder to acquire one (1) additional common share at CDN$0.15 per share for a period of two years from the date of issue.

The Corporation will have the right to accelerate the expiry date of the Warrants if, at any time, the average closing price of ACK's common shares is equal to, or greater than, $0.20 for 10 consecutive trading days. In the event of acceleration, the expiry date will be accelerated to a date that is 30 days after the Corporation issues a news release announcing that it has elected to exercise this acceleration right.

The net proceeds of the Private Placement will be used for general working capital and completing due diligence on possible ventures.

Subject to TSX Venture Exchange ("TSX-V") approval, the Corporation may pay finder's fees.

The Corporation also announces that it has granted, pursuant to its 10% rolling stock option plan, 410,000 incentive stock options (the "Options") to directors, officers and consultants at an exercise price of $0.125 for a term of five years. These shares are not subject to a hold period as per TSX Venture Policy.

The common shares and warrants comprising the Units and Options will be subject to a four-month and a day hold period in accordance with the policies of the TSX-V and applicable securities legislation. The Private Placement and grant of Options remain subject to the approval of the TSX-V.

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.

This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein in the United States. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to the account or benefit of a U.S. person absent an exemption from the registration requirements of such Act.

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 Inc.
    Marc Labrecque
    President and CEO
    (819) 825-0001