Black Birch Capital Acquisition II Corp.

December 17, 2010 17:19 ET

Black Birch Capital Acquisition II Corp. Completes $536,500 Initial Public Offering

TORONTO, ONTARIO--(Marketwire - Dec. 17, 2010) - Black Birch Capital Acquisition II Corp. (TSX VENTURE:BBT.P) (the "Company"), a capital pool company, is pleased to announce that it has completed its initial public offering (the "Offering") of 5,365,000 common shares in the capital of the Company at a price of $0.10 per common share, for total gross proceeds of $536,500.

The net proceeds of the Offering will be used to identify and evaluate assets or businesses for acquisition with a view to completing a Qualifying Transaction under the Capital Pool Company program of the TSX Venture Exchange as disclosed in the Company's prospectus dated October 19, 2010. The Company's common shares have been conditionally approved for listing on the TSX Venture Exchange. The Company expects its common shares will commence trading shortly under the symbol BBT.P. The Company granted stock options to its directors and officers to acquire an aggregate of 736,500 common shares at a price of $0.10 per share exercisable until December 17, 2015.

Northern Securities Inc. ("Agent") acted as agent for the Offering. In connection with the Offering, the Company granted to the Agent a non-transferable option to purchase up to 536,500 common shares at a price of $0.10 per share exercisable for a period of 24 months from the date the Company's common shares are listed on the TSX Venture Exchange.

Forward-looking information:

Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements, unless and until required by applicable securities laws. Additional information identifying risks and uncertainties is contained in the Company's filings with the Canadian securities regulators available on SEDAR at under the Company's profile.

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Black Birch Capital Acquisition II Corp.
    Paul Haber
    Chairman, President, CEO, CFO
    416 318-6501