Golden Sun Capital Inc.

May 18, 2012 13:43 ET

Golden Sun Capital Inc. Completes Initial Public Offering

CALGARY, ALBERTA--(Marketwire - May 18, 2012) - Golden Sun Capital Inc. (the Corporation)(TSX VENTURE:GST.P), a capital pool company, is pleased to announce the successful closing of its initial public offering (the Offering) of 2,014,800 common shares in the capital of the Corporation (Common Shares) at a price of $0.10 per share, resulting in gross proceeds to the Corporation of $201,480, pursuant to an amended and restated final prospectus dated April 20, 2012. Union Securities Ltd. acted as agent in connection with the Offering and received a cash commission of 10% of the gross proceeds of the Offering and was granted an option to purchase 201,480 Common Shares at a price of $0.10 per share for a period of 24 months from the date the Common Shares are listed and posted for trading on the TSX Venture Exchange (the Exchange).

The Corporation is a capital pool company pursuant to Policy 2.4 of the Exchange. The Corporation intends to use the net proceeds of the Offering to identify and evaluate assets or businesses for acquisition with a view to completing a Qualifying Transaction (as defined in Policy 2.4 of the Exchange). The Corporation has received conditional approval from the Exchange for the listing of its Common Shares, subject to the Corporation filing final documentation with the Exchange.

Immediately following the closing of the Offering, the Corporation granted an aggregate of 571,480 options to acquire Common Shares in the capital of the Corporation at an exercise price of $0.10 per Common Share (the Options). The Options are for a five year term from the date of grant and vest immediately.

The Corporation's shares will be listed under the trading symbol of "GST.P". The Corporation's shares are not for distribution in the United States.

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

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