2013-03-08 19:34:37 -
Vancouver, British Columbia CANADA, March 08, 2013 /FSC/ - MARQUIS VENTURES INC. (MQV.P - TSX Venture), ("Marquis" or the "Company"), a capital pool company, is pleased to announce that today it successfully completed its initial public offering ("IPO") of 3,500,000 common shares ("Shares") at $0.10 per Share to purchasers in British Columbia and Alberta for aggregate gross proceeds of $350,000 (the "Proceeds") (the "Closing"). A total of 140,000 Shares were purchased by insiders under the IPO and are subject to escrow restrictions.
PI Financial Corp. (the "Agent") acted as agent for the IPO. Marquis paid the Agent a cash commission equal to 10% of the Proceeds, a corporate finance fee of $10,000 (plus HST) and the agent's expenses in connection
with the offering. In addition, Marquis granted to the Agent an option (the "Agent's Option") to purchase up to an aggregate of 350,000 Shares at a price of $0.10 per Share. The Agent's Option may be exercised for a period of 24 months following the date of listing (the "Listing Date") of Marquis' Shares on the TSX Venture Exchange (the "Exchange").
As a result of the Closing, Marquis now has 6,000,000 Shares issued and outstanding (of which 2,640,000 Shares are subject to escrow restrictions) with an additional 600,000 shares reserved for issuance pursuant to exercise of the directors' and officers' stock options and 350,000 reserved for issuance pursuant to exercise of the Agent's Option.
Marquis's Shares are expected to commence trading on the Exchange at the opening of the market on March 11, 2013 under the symbol "MQV.P".
Marquis's board of directors consists of Derek Wasson, Thomas Brown, Dale Andrews and Peter Shandro.
The Company is a capital pool company within the meaning of the policies of the Exchange. The Company has not commenced operations and has no assets other than cash. The only business of Marquis is the identification and valuation of assets or businesses with a view to completing a "Qualifying Transaction", as defined in Policy 2.4 of the Exchange. Funds raised by Marquis under the IPO are to be used to pursue its Qualifying Transaction. Investors are cautioned that trading in securities of a capital pool company should be considered highly speculative.
Pursuant to section 11.2 of National Instrument 51-102, the Company hereby gives notice that it has become a venture issuer.
On behalf of the board of directors of MARQUIS VENTURES INC.
President, CEO and Director
T: (604) 506-1106
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.
This news release contains statements about the Company's expectations regarding the listing and the commencement of trading on the Exchange that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future.
This press release does not constitute an offer to sell or solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold in the United States or to U.S. person unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
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Source: MARQUIS VENTURES INC. (TSX:V - MQV.P)
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