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Spada Gold Ltd. - Initial Public Offering Completed
Spada Gold Ltd. - Initial Public Offering Completed Spada Gold Ltd. - Initial Publ...
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[{"type":"text","content":"\n\n\n\nSpada Gold Ltd. - Initial Public Offering Completed\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\nSpada Gold Ltd. - Initial Public Offering Completed\nCanada NewsWire\nVANCOUVER, April 14, 2016\n\n\n\nVANCOUVER, April 14, 2016 /CNW/ - Spada Gold Ltd. (the \"Company\"), a capital pool company, is pleased to announce that it has completed its initial public offering (the \"Offering\").\n\nThe Company issued an aggregate of 2,000,000 common shares of the Company to purchasers in British Columbia and Alberta at a purchase price of $0.10 per share for gross proceeds to the Company of $200,000.  \n\nThe Company's CEO, Ron Ho, purchased 37,500 common shares in the Offering.  After giving effect to the Offering, Mr. Ho beneficially owns 1,737,501 common shares and 100,000 incentive stock options, representing 21.72% of the Company's issued and outstanding common shares on a non-diluted basis or 22.69% of the Company's issued and outstanding common shares calculated on a partially-diluted basis (assuming the exercise of his options).  Mr. Ho has advised the Company that he acquired the securities for investment purposes and intends to increase or decrease his beneficial shareholdings from time to time as it may determine appropriate for investment purposes.  Chris Buss, a director of the Company, also participated in the Offering, purchasing 34,500 shares.\n\nCanaccord Genuity Corp. acted as agent in respect of the Offering and received a cash commission of $20,000 and a cash administration finance fee.  In addition, the Company issued to agents involved in the Offering non-transferable options to acquire an aggregate of up to 200,000 common shares for a period of two years from the date the  Company's shares commence trading on the TSX Venture Exchange (the \"Exchange\"), at an exercise price of $0.10 per share.\n\nThe 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 Company will us...