Lander Energy Corporation

March 18, 2008 19:20 ET

Lander Energy Corporation Announces Completion of Initial Public Offering

TORONTO, ONTARIO--(Marketwire - March 18, 2008) - Lander Energy Corporation ("Lander ") is pleased to announce that it has completed its initial public offering of 1,000,000 common shares at the price of $0.20 per common share for gross proceeds of $200,000 pursuant to its prospectus dated January 25, 2008 and will be filing all final listing documents with the TSX Venture Exchange Inc. (the "TSX Venture"). As a result of this issuance, Lander has 2,000,000 common shares issued and outstanding. Lander also granted options to acquire an aggregate of 200,000 common shares at an exercise price of $0.20 per share to directors and officers of Lander and an agent's option to acquire an aggregate of 100,000 shares at an exercise price of $0.20 per share for a period of 24 months to Blackmont Capital Inc. and its sub-agents.

Lander is a Capital Pool Company as defined in Policy 2.4 of the TSX Venture and is therefore subject to and governed by the restrictions of TSX Venture Policy 2.4. To date, Lander has not conducted operations of any kind. Lander will immediately commence identifying and evaluating opportunities for the acquisition of an interest in assets or businesses and, once identified and evaluated, to negotiate an acquisition or participation subject to regulatory approval. Lander does not own any assets, other than cash, and has not entered into an "Agreement in Principle", as such phrase is defined in Policy 2.4 of the TSX Venture, with respect to any acquisition.

THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.

Contact Information

  • Lander Energy Corporation
    David Wood
    President and director
    (604) 720-7307