Business
RDS Acquisition Corp. completes initial public offering
RDS Acquisition Corp. completes initial public offering.
About this update from Canada Rare Earth Corp.
[{"type":"text","content":"\n\n\n\n\nTSX VENTURE EXCHANGE: RA\n\nTORONTO, May 15 /CNW/ - RDS Acquisition Corp. (\"RDS\") (TSX Venture: RA)\nis pleased to announce that it has completed its initial public offering as a\ncapital pool company (\"CPC\").\nOn May 10, 2006 RDS completed an initial public offering of 2,000,000\ncommon shares at a price of $0.10 per share for gross proceeds to RDS of\n$200,000 to purchasers in Ontario, Alberta and British Columbia. Blackmont\nCapital Inc. acted as agent in respect of the offering and received a cash\ncommission, as well as an option to acquire 10% of the aggregate number of\nshares sold pursuant to the offering for a period of 24 months from the date\nof listing of the common shares on the TSX Venture Exchange (the \"Exchange\")\nat an exercise price of $0.10 per common share.\nRDS is in the process of filing the requisite post-closing documentation\nwith the Exchange in order to obtain final approval of the listing of the\ncommon shares.\nThe directors and officers of RDS are Ronald D. Schmeichel, Scott A.\nDick, and Mario M. Kulas. Detailed information regarding each director is\ncontained within the Prospectus, which is available to the public at\nwww.sedar.com.\n\nThe TSX Venture Exchange does not accept responsibility for adequacy or\naccuracy of this release\n\n\n\n","length":1347,"tagName":"div"}]