Courtland Capital Corp.

May 13, 2009 18:26 ET

Courtland Capital Announces Intent to Complete a Private Placement

CALGARY, ALBERTA--(Marketwire - May 13, 2009) - Courtland Capital Corp. (TSX VENTURE:CTK.P) ("Courtland" or the "Company") is pleased to announce that it intends to complete a private placement, including by way of short form offering document, of units (the "Units") of the Company (the "Offering").

The Offering will consist of the issuance of up to 30,000,000 Units at a price of $0.10 per Unit resulting in aggregate gross proceeds to the Corporation of up to $3,000,000. Each Unit will be comprised of one common share in the capital of Courtland (a "Common Share") and 3/4 of one common share purchase warrant (each whole common share purchase warrant a "Warrant"). Each Warrant shall entitle the holder thereof to acquire one additional Common Share at a price of $0.20 per Common Share, at any time on or before the close of business on the date that is two years from the closing date of the Offering.

The Offering will close concurrently with the Company's previously announced acquisition of ForceLogix, Inc. ("ForceLogix"). The acquisition of ForceLogix is anticipated to constitute Courtland's Qualifying Transaction pursuant to Policy 2.4 of the TSX Venture Exchange. A revised filing statement will be filed on the SEDAR website at to reflect the Offering.

It is anticipated that the proceeds of the Offering will be used to enhance and increase ongoing sales and marketing efforts, for research and development, for general and administrative purposes and to pay expenses incurred with respect to the Qualifying Transaction.

The completion of the Offering is subject to a number of conditions, including, but not limited to, receipt of all requisite regulatory approvals, including that of the TSX Venture Exchange. There can be no assurance that the transaction will be completed as proposed or at all.

This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts that address future developments that the Company expects are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include, but are not limited to, the receipt of regulatory approvals, general economic, market or business conditions.

The TSX Venture Exchange Inc. does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • Courtland Capital Corp.
    Mr. Gene Maher
    President, Chief Executive Officer, Chief Financial Officer,
    Secretary and a Director
    (847) 932-4152
    (866) 274-1782 (FAX)