Sparcap One Ltd.

August 27, 2011 15:41 ET

Sparcap One Ltd. Completes Initial Public Offering

TORONTO, ONTARIO--(Marketwire - Aug. 27, 2011) - Sparcap One Ltd. ("Sparcap" or the "Company"), a capital pool company, is pleased to announce that it has completed an initial public offering of 4,470,000 common shares at a price of $0.10 (CAD) per share raising gross proceeds of $447,000 (CAD). Raymond James Ltd. acted as agent in connection with the offering and received a commission equal to 10% of the gross proceeds of the offering and 447,000 agent's options, each of which entitles Raymond James to purchase one common share of the Company for a period of 24 months from listing at a price of $0.10 (CAD) per share. The Company also issued 268,200 options to the directors and officers of the Company, each of which entitles the holder to purchase one common share of the Company for a period of 5 years from listing at a price of $0.10 (CAD) per share. The common shares are expected to be posted for trading on the TSX Venture Exchange under the stock symbol "SON.P" at the opening of trading on or about September 1, 2011.

The net proceeds from Sparcap's initial public offering will be used to identify and evaluate assets and businesses with a view to completing a 'Qualifying Transaction' in accordance with TSX Venture Exchange policies.

Following completion of the initial public offering, Sparcap has 9,470,000 common shares issued and outstanding.

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.

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