Tucson Acquisition Corporation
TSX VENTURE : TSS.P

May 16, 2012 12:54 ET

Tucson Acquisition Corporation Announces Closing of Initial Public Offering

CALGARY, ALBERTA--(Marketwire - May 16, 2012) -

NOT FOR DISSEMINATION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Tucson Acquisition Corporation ("Tucson" or the "Corporation") (TSX VENTURE:TSS.P) announces it has completed its initial public offering (the "Offering") raising gross proceeds of $300,000, pursuant to a prospectus dated March 14, 2012. A total of 1,500,000 common shares in the capital of the Corporation (the "Shares") were subscribed for at a price of $0.20 per Share. Macquarie Private Wealth Inc. ("Macquarie") acted as the agent for the Offering. Macquarie received a corporate finance fee and a cash commission equal to 10% of the gross proceeds of the Offering, as well as an option to purchase 150,000 Shares at a price of $0.20 for a period of two years.

The Corporation now has 2,500,000 Shares outstanding, with the directors and officers of Tucson in aggregate holding 1,000,000 Shares.

The Shares have been listed on the TSX Venture Exchange and subsequently halted pending delivery of certain documents in connection with the closing of the Offering and are expected to begin trading under the stock symbol TSS.P.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

ABOUT TUCSON

The Corporation is a capital pool company ("CPC") that has not commenced commercial operations and has no assets other than cash. Except as specifically contemplated in the CPC policy, until the completion of the 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 Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Contact Information

  • Tucson Acquisition Corporation
    Alain Lambert
    President, Chief Executive Officer, Chief Financial Officer
    (514) 395-1191