Thoroughbred Capital Inc.

August 25, 2011 19:09 ET

Thoroughbred Capital Inc. Announces Completion of Initial Public Offering

OTTAWA, ONTARIO--(Marketwire - Aug. 25, 2011) - Thoroughbred Capital Inc. ("Thoroughbred" or the "Corporation") is pleased to announce that it has completed its initial public offering of 4,000,000 common shares (the "Common Shares") at the price of $0.10 per Common Share for aggregate gross proceeds of $400,000 pursuant to its prospectus dated June 28, 2011 and has filed all final listing documents with the TSX Venture Exchange Inc. (the "TSX-V"). Thoroughbred anticipates that its Common Shares will commence trading on the TSX-V at the end of the month. Following this issuance, the Corporation has 6,000,000 Common Shares issued and outstanding, of which 2,000,000 Common Shares are escrowed pursuant to an escrow agreement with Equity Financial Trust Company. Fin-XO Securities Inc. acted as agent in connection with this initial public offering and received a commission of $40,000. Thoroughbred also granted Fin-XO Securities Inc. an agent's option to acquire 400,000 Common Shares at an exercise price of $0.10 per share for 24 months from the date of listing of the Common Shares.

Options to purchase a total of 600,000 Common Shares have been granted to the Directors of the corporation. The exercise price of the Directors' options is $0.10 per Common Share and the term of the option is ten years. All other terms are consistent with Thoroughbred's stock option plan.

Thoroughbred is a Capital Pool Company as defined in Policy 2.4 ("Policy 2.4") of the TSX-V and is, therefore, subject to and governed by the restrictions of Policy 2.4.

Thoroughbred's present intention is to identify and evaluate businesses and assets with a view to completing a Qualifying Transaction pursuant to Policy 2.4. Thoroughbred does not own any assets, other than cash, and has not entered into an "Agreement in Principle" as such phrase is defined in Policy 2.4.

The Common Shares of Thoroughbred are expected to commence trading on the TSX-V under the symbol "TBC.P" after the final bulletin has been issued by the TSX-V.

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.

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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