Eminence Capital II Inc.

July 08, 2008 13:43 ET

Eminence Capital II Inc. Completes Capital Pool Company Initial Public Offering

TORONTO, ONTARIO--(Marketwire - July 8, 2008) - Eminence Capital II Inc. (the "Corporation"), a capital pool company, is pleased to announce that is has completed its initial public offering by issuing 2,065,000 common shares at a price of $0.20 per share, for gross proceeds to the Corporation of $413,000.

The common shares of the Corporation are expected to commence trading on the TSX Venture Exchange shortly under the trading symbol of ("ECI.P").

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 TSX Venture Exchange.

Raymond James Ltd. (the "Agent") acted as agent for the offering. In connection with the offering, the Agent received an aggregate commission equal to 10% of the aggregate gross proceeds of the sale of the common shares. In addition, the Corporation granted to the Agent compensation warrants entitling the agent to purchase up to 206,500 common shares at a price of $0.20 per common share for a period of 24 months from the date the Corporation's shares are listed on the TSX Venture Exchange. The Agent also received a corporate finance fee of $9,000.

2,500,000 of the previously issued and outstanding shares of the Corporation were placed in escrow in accordance with the policies of the TSX Venture Exchange. The shares are held by the Corporation's directors, officers, insiders and an officer of the Agent and were issued at a price of $0.10 per share for an aggregate purchase price of $250,000. Upon completion of the offering, the Corporation granted a total of 456,500 options to its officers and directors. Each of the options is exercisable at a price of $0.20 per common share until June 26, 2013.

The directors and officers of the Corporation are Matey Nedkov de LaCamp, Chairman, Jeffrey Dennis, President & Chief Executive Officer, Allan Grossman, Chief Financial Officer, David Woolford, Corporate Secretary, Stephen Kwok, Director, and Sudhir Morar, Director.

For additional information, please see the Prospectus of the Corporation dated April 3, 2008 or contact: David Woolford at Tel: (416) 860-2911 dwoolford@casselsbrock.com.

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

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