CALGARY, ALBERTA--(Marketwired - Nov. 30, 2016) -
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Trusted Brand 2016 Inc. ("Trusted Brand" or the "Corporation") ("TSX VENTURE:HAH.P") is pleased to announce that it has successfully completed its initial public offering ("Offering") raising gross proceeds of $570,725 pursuant to an amended and restated prospectus dated September 9, 2016 (the "Prospectus"). An aggregate of 2,282,900 common shares in the capital of the Corporation (the "Shares") were subscribed for at a price of $0.25 per Share. The Corporation has received conditional listing approval from the TSXV for its Shares and expects that trading will commence on November 30, 2016, under the stock symbol HAH.P. Emerging Equities Inc. (the "Agent") acted as the exclusive agent for the Offering. The Agent received a cash commission equal to 10% of the gross proceeds of the Offering and an option to purchase 228,290 Shares at a price of $0.25 per Share for a period of 24 months from the date of listing of the Shares on the TSXV. The Agent also received a corporate finance fee of $20,000, plus taxes. Upon closing of the Offering and as disclosed in the Prospectus, Trusted Brand granted 396,290 incentive stock options to its directors and officers which are exercisable within ten years from the date of the grant at an exercise price of $0.25 per Share. As a result of the closing of its initial public offering, Trusted Brand now has 3,962,900 Shares issued and outstanding (1,812,200 of which are subject to escrow restrictions).
About Trusted Brand 2016 Inc.
Trusted Brand is a capital pool company ("CPC") within the meaning of the policies of the TSXV that has not commenced commercial operations and has no assets other than cash. The board of directors of the Corporation consists of Karen Stewart, Robert Libin, Perla Woo and David Mackenzie. The officers of the Corporation are Karen Stewart (CEO), Kevin Saskiw (CFO) and Ted Geier (Vice President). Except as specifically contemplated in the CPC policy, until the completion of its Qualifying Transaction, the Corporation will not carry on business, other than the identification and evaluation of companies, business or assets with a view to completing a proposed Qualifying Transaction.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.