2013-03-22 22:03:19 -
NOT FOR DISSEMINATION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Calgary, Alberta - March 22, 2013. Morro Bay Capital Ltd. ("Morro Bay" or the "Corporation") (TSX Venture: MRW.P) is pleased to announce that it has successfully completed its initial public offering (the "Offering") raising gross proceeds of $2,667,995, pursuant to an Amended and Restated Prospectus dated March 5, 2013. An aggregate of 26,679,950 Common Shares in the capital of the Corporation (the "Shares") were subscribed for at a price of $0.10 per Share.
Macquarie Private Wealth Inc. ("Macquarie") acted as the lead agent for the Offering. Macquarie received a corporate finance fee in the amount of $12,500. In addition, Macquarie along with the sub-agents to the
offering received a cash commission equal to 10% of the gross proceeds of the Offering and an option to purchase 2,667,995 Shares at a price of $0.10 for a period of 24 months from the date of listing of the Shares on the Exchange.
Upon closing of the Offering, Morro Bay granted 1,000,000 incentive stock options to its directors and officers which are exercisable within five (5) years from the date of the grant at an exercise price of $0.10 per Share. As a result of the closing of its initial public offering, Morro Bay now has 30,979,950 Shares issued and outstanding (4,800,000 of which are subject to escrow restrictions).
The Shares have been listed on the TSX Venture Exchange as of March 22, 2013 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 MRW.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 MORRO BAY CAPITAL LTD.
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.
For further information, please contact:
Mr. John Zang, Director of:
Morro Bay Capital Ltd.
2248 - 9th Avenue SE
Calgary, Alberta T2G 5P7
Telephone: (403) 680 9264
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.
To view this press release as a webpage, please click on the following link:
www.usetdas.com/pr/morrobay03222013.pdf 
