TORONTO, ONTARIO — (Marketwired) — 07/18/13 — Friday Capital Inc. (the “Company”), a capital pool company, is pleased to announce that it has completed an initial public offering of 4,623,000 common shares at a price of $0.10 per share raising gross proceeds of $462,300. Macquarie Private Wealth Inc. (“Macquarie”) acted as agent in connection with the offering and received a commission equal to 10% of the gross proceeds of the offering. Macquarie and Mackie Research Capital Corporation, a member of Macquarie-s selling group, received an aggregate of 462,300 agent-s options, each of which entitles the holder to purchase one common share of the Company at a price of $0.10 per share for a 24 month period from the day the Company-s common shares are listed for trading on the TSX Venture Exchange (the “Exchange”).
The Company also issued 462,300 options to the directors and officers of the Company, each of which entitles the holder to purchase one common share of the Company for a period of 5 years from listing at a price of $0.10 per share.
The common shares are expected to be posted for trading on the Exchange under the stock symbol “FYC.P” at the opening of trading on or about July 22, 2013.
The net proceeds from the Company-s initial public offering will be used to identify and evaluate assets and businesses with a view to completing a “Qualifying Transaction” in accordance with Exchange policies.
Following completion of the initial public offering, the Company has 7,423,000 common shares issued and outstanding.
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.
Contacts:
Friday Capital Inc.
Michael Davidson
C.E.O., C.F.O. and Director
(647) 970-2829