Carlaw Capital IV Inc.

June 24, 2011 16:05 ET

Carlaw Capital IV Inc. Completes $300,000 Initial Public Offering

TORONTO, ONTARIO--(Marketwire - June 24, 2011) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES

Carlaw Capital IV Inc. (the "Corporation"), a capital pool company, is pleased to announce the completion of its initial public offering (the "Offering"). The Corporation issued 1,500,000 common shares in the capital of the Corporation (the "Common Shares") at a price of $0.20 per share, for gross proceeds to the Corporation of $300,000. As a result of this issuance, the Corporation has 3,250,000 Common Shares issued and outstanding. All of the 1,750,000 Common Shares issued prior to this Offering are deposited in escrow with the Corporation's escrow agent.

The Common Shares are currently scheduled to commence trading on the TSX Venture Exchange (the "Exchange") on or about Monday, June 27, 2011 under the trading symbol of "CLW.P".

In connection with the Offering, the Corporation has granted options to purchase an aggregate of 150,000 Common Shares at $0.20 per share to its agent Integral Wealth Securities Limited and sub-agent Canaccord Genuity Corp.; options to purchase an aggregate of 225,000 Common Shares at $0.20 per share to its directors and officers; and charitable options to purchase 32,500 Common Shares at $0.20 per share 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, Chief Executive Officer, Chief Financial Officer, Corporate Secretary and Director; James Eaton, Director; and Richard Kimel, Director.

Neither 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 or accuracy of this release.

Contact Information

  • Capital IV Inc.
    Amar Bhalla
    Chief Executive Officer, Chief Financial Officer
    and Corporate Secretary
    416.928.5104