Druk Capital Partners Inc.
TSX VENTURE : DRU.P

Druk Capital Partners Inc.

March 07, 2011 21:42 ET

Druk Capital Closes First Tranche of Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 7, 2011) - DRUK CAPITAL PARTNERS INC. (TSX VENTURE:DRU.P) is pleased to announce that, further to its press releases of February 10, 2011, it has closed the first tranche of its private placement, to raise gross proceeds of $757,200. The Company issued a total of 1,262,000 common shares at $0.60 per share.

The Company has paid a total cash fee of $1,008 to certain arm's length finders, equal to 4% of the total proceeds raised by qualified subscribers introduced to the Company by the finders, and issued a total of 1,680 non-transferable finders' warrants, equal to 4% of the number of shares purchased by such subscribers. Each finder's warrant entitles the finder to purchase one common share of the Company at a price of $0.70 for a period of eighteen (18) months from today's date.

The net proceeds of the private placement will be used to identify and evaluate assets or businesses for acquisition with a view to completing a Qualifying Transaction, initial refundable deposits that may be required with any target company, and to fund expenses post-Qualifying Transaction.

All securities issued pursuant to this private placement, including common shares issued on exercise of the finders' warrants, are subject to a 4 month hold period expiring on July 8, 2011.

ON BEHALF OF THE BOARD

Kelly Klatik, President and CEO

Neither the 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