Whiteknight Acquisitions II Inc.

March 02, 2012 15:34 ET

Whiteknight Acquisitions II Inc. Announces Closing of Its IPO

TORONTO, ONTARIO--(Marketwire - March 2, 2012) - Whiteknight Acquisitions II Inc. (the "Corporation"), is pleased to announce that the Corporation completed its initial public offering (the "Offering") today of 1,929,000 common shares (the "Common Shares") at a purchase price of $0.20 per Common Share by way of a prospectus for gross proceeds of $385,800.

The Corporation is a Capital Pool Company as defined in the policies of the TSX Venture Exchange Inc. (the "Exchange"). To date, the Corporation has not conducted operations of any kind and has not entered into an "Agreement in Principle", as such phrase is defined in Exchange Policy 2.4 - Capital Pool Companies.

Canaccord Genuity Corp. ("Canaccord") acted as agent in connection with the Offering. For its services, Canaccord received a cash commission equal to 10% of the gross proceeds of the Offering as well as options to purchase up to 192,900 Common Shares at an exercise price of $0.20 per Common Share, exercisable within twenty-four months from the listing of the Common Shares on the Exchange. Canaccord also received an administration fee for its services.

Upon the closing of the Offering, there were 5,324,000 Common Shares issued and outstanding, of which 2,315,000 Common Shares were being held in escrow.

Concurrently with the closing of the Offering, the directors and officers of the Corporation were granted options pursuant to the Corporation's stock option plan totaling an aggregate of 532,400 options exercisable for 5 years from the date of issue at an exercise price of $0.20 per share.

It is expected that the Common Shares will be admitted for trading on the Exchange under the trading symbol "WKN.P" at the opening of the market on March 6, 2012, or such other date as the Exchange may determine.

This press release includes certain "Forward-Looking Statements" within the meaning of the US Private Securities Reform Act of 1995. Other than statements of historical fact, all statements are "Forward-Looking Statements" that involve such various known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove accurate. Results and future events could differ materially from those anticipated in such statements. Readers of this press release are cautioned not to place undue reliance on these "Forward-Looking Statements". All dollar amounts are Canadian dollars unless otherwise noted.

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.

Contact Information

  • Whiteknight Acquisitions II Inc.
    David Mitchell
    President and Chief Executive Officer