Rodocanachi Capital Inc.

October 07, 2010 12:43 ET

Richard Besner Increases His Participation in Rodocanachi Capital Inc.

MONTREAL, QUEBEC--(Marketwire - Oct. 7, 2010) - Rodocanachi Capital Inc. ("Rodocanachi") (TSX VENTURE:ROD.P), Richard Besner announces that he acquired, subject to the TSXV Venture Exchange approval, a total of 400,000 escrowed common shares (the "Common Shares") in the share capital of Rodocanachi representing approximately 5.13% of the issued and outstanding Common Shares of the Corporation at a price of CAD$0.05 per share for an aggregate consideration of CAD$20,000. The Common Shares were acquired in reliance upon the prospectus and registration exemption contained in section 2.5 of Regulation 45-106 respecting Prospectus and Registration Exemptions.

After the transaction, Mr. Besner, an officer and director of the Corporation and a holder of more than 10% of its issued and outstanding Common Shares, now beneficially owns or controls, directly and indirectly, a total of 800,000 Common Shares of Rodocanachi representing approximately 10.26% of the 7,800,000 issued and outstanding Common Shares of the Corporation as of the date hereof. In addition, Mr. Besner also holds stock options to acquire up to 130,000 Common Shares under the stock option plan of the Corporation. His participation, assuming the exercise of his options, would increase to 930,000 Common Shares, being 11.73% of the Common Shares then issued and outstanding.

The Common Shares were acquired by Mr. Besner for investment purposes pursuant to a private transaction. Mr. Besner may, from time to time, acquire additional securities of Rodocanachi, dispose of some or all of the securities that he holds, or might hold, or continue to hold his current positions.

Mr. Besner will be filing a report (as contemplated by Regulation 62-103 respecting the Early Warning System and Related Takeover Bid and Insider Reporting Issues (Quebec)) in connection with his acquisition of the Common Shares.

Neither the 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.

Contact Information

  • Rodocanachi Capital Inc.
    Mr. Richard Besner
    President and Chief Executive Officer