China 88 Capital Corp.

February 10, 2010 18:54 ET

China 88 Capital Corp. Announces Closing of Initial Public Offering

CALGARY, ALBERTA--(Marketwire - Feb. 10, 2010) -

(NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA)

China 88 Capital Corp. ("China 88" or the "Corporation") (TSX Venture: ZRG) announces it has completed its initial public offering ("Offering") raising gross proceeds of $900,000, pursuant to a prospectus dated January 13, 2010. A total of 9,000,000 common shares in the capital of the Corporation (the "Shares") were subscribed for at a price of $0.10 per Common Share. Mackie Research Capital Corporation ("Mackie Research") acted as the agent for the Offering, which was fully subscribed. Mackie Research received a corporate finance fee, and a cash commission equal to 10% of the gross proceeds of the Offering as well as an option to purchase 900,000 Common Shares at a price of $0.10 for a period of two years.

The Corporation now has 13,000,000 Common Shares outstanding, with the directors and officers of China 88 in aggregate, holding 4,000,000 Common Shares.

The Common Shares of China 88 have been conditionally approved for listing on the TSX Venture Exchange and are expected to begin trading within the next two weeks under the stock symbol ZRG.

ABOUT CHINA 88

The Corporation is a capital pool company ("CPC") that has not commenced commercial operations and has no assets other than cash. Except as specifically contemplated in the CPC policy, until the completion of the qualifying transaction, the Corporation will not carry on business, other than the identification and evaluation of companies, business or assets with a view to completing a proposed qualifying transaction.

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 news release.

Contact Information

  • China 88 Capital Corp.
    James Paterson, President, Chief Executive Officer,
    Chief Financial Officer, Secretary and Director
    +1 (888) 505-5480
    +1 (320) 451-7490 (FAX)