Carlaw Capital III Corp.

July 10, 2008 16:41 ET

Carlaw Capital III Corp. Completes $200,000 Initial Public Offering

TORONTO, ONTARIO--(Marketwire - July 10, 2008) -

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Carlaw Capital III Corp. (the "Corporation"), a capital pool company, is pleased to announce the completion of its initial public offering. The Corporation issued 1,000,000 common shares at a price of $0.20 per share, for gross proceeds to the Corporation of $200,000. As a result of this issuance, the Corporation has 4,500,000 common shares issued and outstanding. All of the 3,500,000 common shares issued prior to this initial public offering are deposited in escrow with the Corporation's escrow agent.

The common shares of the Corporation are currently scheduled to commence trading on the TSX Venture Exchange (the "Exchange") on Monday, July 14, 2008 under the trading symbol of "CW.P".

In addition to granting stock options at $0.20 per share to its agent, Integral Wealth Securities Limited, and to certain of its directors and officers, the Corporation has granted 45,000 charitable options to the Toronto Community Foundation.

The net proceeds of the offering will be used by the Corporation 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 Exchange.

The current directors and officers of the Corporation are: Amar Bhalla, Chairman, Chief Executive Officer, Chief Financial Officer and Director; Robert Campbell, Director; Richard Kimel, Director; and Ravi Sood, Director.

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

Contact Information

  • For additional information, please see the prospectus
    of the Corporation dated May 29, 2008 or contact:
    Carlaw Capital III Corp.
    Amar Bhalla
    Chairman and Chief Executive Officer
    (416) 922-9096