Terra Firma Capital Corporation

Terra Firma Capital Corporation

December 20, 2007 13:45 ET

Terra Firma Capital Corporation Completes $700,000 Initial Public Offering

TORONTO, ONTARIO--(Marketwire - Dec. 20, 2007) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE U.S.

Terra Firma Capital Corporation (the "Company"), a capital pool company, is pleased to announce that it has completed its initial public offering ("Offering") of 3,500,000 shares at a price of $0.20 per share for gross proceeds to the Company of $700,000. Canaccord Capital Corporation ("Canaccord") acted as agent for the Offering.

The Company's common shares have been conditionally approved for listing on the TSX Venture Exchange. The Company expects its common shares will commence trading as soon as practicable but in any event in early 2008 under the symbol "TII".

The net proceeds of the Offering will be used to identify and evaluate assets of businesses for acquisition with a view to completing a "Qualifying Transaction" under the Capital Pool Company program of the TSX Venture Exchange as disclosed in the Company's prospectus dated December 14, 2007.

At the closing of the Offering, the Company also granted stock options to its directors and officers to acquire an aggregate of 385,000 common shares at a price of $0.20 per share exercisable until December 20, 2012.

Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. The Company assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to the Company. Additional information identifying risks and uncertainties is contained in the Company's filings with the Canadian securities regulators, which filings are available at www.sedar.com.

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

Contact Information

  • Terra Firma Capital Corporation
    Allan Silber
    Chairman & CEO
    (416) 866-3060
    (416) 866-3050 (FAX)