VANCOUVER, BC--(Marketwired - February 23, 2017) -
THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT AUTHORIZED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Knightswood Financial Corp. (TSX VENTURE: KWF) (the "Company") announces that, further to its news release dated January 25, 2017, the British Columbia Securities Commission has issued the final receipt for the Company's non-offering prospectus dated February 22, 2017 (the "Prospectus"). The Prospectus qualifies the issuance of 20,309,182 common shares and 20,309,182 common share purchase warrants ("Warrants") of the Company, upon the automatic conversion of the same number of special warrants previously issued by the Company on closing of its non- brokered private placement. Each Warrant entitles the holder to purchase one additional common share of the Company at a price of $0.07 until January 20, 2019.
On January 20, 2017, the Company closed, and received the net proceeds of $1,117,005 through the issuance of the 20,209,182 special warrants at a price of $0.055 per special warrant.
As a result of the conversion of the special warrants, the Company has a total of 23,320,849 common shares issued and outstanding.
About Knightswood Financial Corp.
The Company is an investment company that seeks to provide investor returns through dividends, investment fees and capital appreciation.
ON BEHALF OF THE BOARD
Neither 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.
The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements.
This release does not constitute an offer for sale of, nor a solicitation for offers to buy, any securities in the United States.
THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT AUTHORIZED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.