Rym Capital Corp.

June 27, 2005 15:47 ET

Rym Announces Listing on TSX Venture

TORONTO, ONTARIO--(CCNMatthews - June 27, 2005) - Rym Capital Corp. ("Rym" or the Company), (TSX VENTURE:RYM.P) a capital pool company, has completed its initial public offering in Ontario, British Columbia and Alberta by issuing 9,500,000 common shares at a price of $0.20 per share, for a gross proceeds to the Corporation of $1,900,000.

The common shares of the Company were admitted for trading on the TSX Venture Exchange (the "Exchange") on Wednesday, June 22, 2005 under the trading symbol "RYM.P".

The net proceeds of the offering will be used by the Company to identify and evaluate assets or businesses for acquisition with a view to completing a "Qualifying Transaction" under the capital pool company program of the Exchange.

Research Capital Corporation acted as agent for the offering. In connection with the offering, the Corporation granted to the agents non-transferable options to acquire up to an aggregate of 950,000 common shares at a price of $0.20 per share. The options may be exercised until September 15, 2006. The agent also received an aggregate cash commission equal to 10% of the aggregate gross proceeds of the sale of the common shares.

At the closing of the offering, the Company also granted stock options to its directors and officers in respect of an aggregate of 1,050,000 common shares. The options may be exercised until June 15, 2010 at the price of $0.20 per share.

All 1,000,000 previously issued and outstanding shares of the Company were placed in escrow in accordance with the policies of the Exchange. The shares are held by the Company's directors and officers and were issued at a price of $0.10 per share for an aggregate purchase price of $100,000.

The current directors and officers of the Company are: Thomas Taylor, President and Director, Martin C. Bernholtz, Chief Financial Officer, Treasurer, Secretary and Director, Michael Newman, Director, Israel Ellis, Director, Adrian P. Newman, Director and Felix Semberov, Director.

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

Contact Information

  • Rym Capital Corp.
    Thomas Taylor
    President and a Director
    (416) 597-1773