Sun Red Capital Corporation

March 29, 2007 13:55 ET

Sun Red Capital Corporation Announces Closing of Initial Public Offering (CPC)

CALGARY, ALBERTA--(CCNMatthews - March 29, 2007) - Sun Red Capital Corporation (the "Corporation") is pleased to announce that it has completed its initial public offering of 2,666,667 common shares, at a price of $0.15 per common share, for aggregate gross proceeds of $400,000 (the "IPO") and has filed for listing as a Capital Pool Company on the TSX Venture Exchange (the "TSXV"). Northern Securities Inc. acted as agent on the IPO. Subject to the fulfillment of all TSXV requirements, it is expected that the common shares of the Corporation will commence trading on the TSXV on or about April 12, 2007 under the trading symbol "SSQ.P".

As a result of the closing of the IPO, the Corporation now has 4,666,667 common shares issued and outstanding with 266,667 common shares reserved for issuance pursuant to the exercise of agent's options and 466,666 common shares issuable upon the exercise of stock options.

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

Contact Information

  • Sun Red Capital Corporation
    Greg Hansen
    Chief Financial Officer and Director
    (403) 397-0186