September 09, 2016 14:21 ET
OTTAWA, ONTARIO--(Marketwired - Sept. 9, 2016) -
NOT FOR DISTRIBUTION TO THE UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Mercal Capital Corp. ("Mercal" or the "Company") (TSX VENTURE:MUL.P) is pleased to announce that it has filed all required interim financial statements and the Ontario Securities Commission has granted full revocation of the cease trade order (the "CTO") issued against the Company on September 2, 2016. The CTO was imposed for the Company's failure to file its interim financial statements and management's discussion and analysis for six-month period ended June 30, 2016. The Company has now filed its interim financial statements and management's discussion and analysis for six-month period ended June 30, 2016. All of such disclosure documents are available for review online on the Company's profile on SEDAR at www.sedar.com.
Trading in the common shares of Mercal was halted at the Corporation's request June 24, 2016 pending the announcement of the proposed Qualifying Transaction ("QT"). The TSXV suspended trading of the Company's securities as a result of the CTO effective September 2, 2016. As the Company's common shares were halted prior to the CTO, trading in the common shares of the Company will remain suspended until the completion of the proposed QT.
Mercal was incorporated under the Canada Business Corporations Act on August 31, 2015 and its fiscal year end is December 31. Mercal is classified as a CPC as defined in CPC Policy 2.4 and as such Mercal has not commenced commercial operations and has no assets other than cash with which to identify and evaluate businesses or assets with a view to completing a Qualifying Transaction. As a result, Mercal's current business is to identify and evaluate businesses and assets with a view to completing a Qualifying Transaction.
Further information about Mercal can be found in its prospectus dated March 31, 2016 and other filings of the Corporation with the Canadian securities regulators, which filings are available at www.sedar.com.
Mercal Capital CorporationTimothy McCunnPresident(613) 238-2022(613) 238-8775 (FAX)TMcCunn@perlaw.ca
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