Chrysalis Capital II Corporation

Chrysalis Capital II Corporation

March 24, 2005 17:21 ET

Chrysalis Capital II Corporation (the "Corporation") Announces Closing of Initial Public Offering


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: CHRYSALIS CAPITAL II CORPORATION

MARCH 24, 2005 - 17:21 ET

Chrysalis Capital II Corporation (the "Corporation")
Announces Closing of Initial Public Offering

CALGARY, ALBERTA--(CCNMatthews - March 24, 2005) - On March 24, 2005,
the Corporation successfully completed its initial public offering of
5,000,000 common shares (the "Shares") as a capital pool company for
gross proceeds of $1,000,000. As a result of this issuance, the
Corporation has 7,500,000 Shares issued and outstanding. The Corporation
also granted options to acquire an aggregate of 750,000 Shares at an
exercise price of $0.20 per Share to the directors and officers of the
Corporation and an Agent's Option to acquire an aggregate of 500,000
Shares at an exercise price of $0.20 per Share to Research Capital
Corporation. The Corporation is a capital pool company pursuant to
Policy 2.4 of the TSX Venture Exchange (the "Exchange"). Research
Capital Corporation acted as agent for the offering.

A further press release will follow upon acceptance for filing of the
Corporation's formal listing application by the Exchange. It is
anticipated that upon listing the Corporation's symbol will be "CHC.P".

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Chrysalis Capital II Corporation
    Marc Lavine
    President and Chief Executive Officer
    (416) 352-5763
    Email: marc.lavine@chrysalis-capital.com
    The TSX Venture Exchange does not accept responsibility for the accuracy
    or adequacy of this release.