Chicane Capital I Corp. Completes Initial Public Offering

About this update from Chicane Capital I Corp

[{"type":"text","content":"Chicane Capital I Corp. Completes Initial Public OfferingToronto, Ontario--(Newsfile Corp. - December 14, 2022) - CHICANE CAPITAL I CORP. (TSXV: CCIC) (the \"Corporation\") is pleased to announce that it has completed an initial public offering of 3,088,000 common shares of the Corporation (the \"Common Shares\") at a price of $0.10 per common share for gross proceeds of $308,800 (the \"Offering\").Following the closing of the Offering, a total of 5,988,000 Common Shares are issued and outstanding, of which 2,900,000 are currently held in escrow pursuant to the policies of the TSX Venture Exchange (the \"Exchange\").The current directors and officers of the corporation are John Travaglini, Chief Executive Officer, President and Director; Benhur Ghirmai, Chief Financial Officer and Corporate Secretary; Paul Wood, Director; James Allan, Director; and David Brown, Director. The net proceeds of the Offering, together with proceeds from prior sales of Common Shares will be used by the Corporation to identify and evaluate assets or businesses for acquisition with a view to completing a \"Qualifying Transaction\" under the capital pool company program of the Exchange.Haywood Securities Inc. (the \"Agent\") acted as agent for the Offering. In connection with the Offering, the Corporation granted to the Agent non-transferable warrants to acquire up to an aggregate of 308,800 Common Shares at a price of $0.10 per Common Share at any time up to the earlier of December 14, 2027 and the date that is 12 months from the completion of the Corporation's Qualifying Transaction. The Agent also received a cash commission equal to 10% of the aggregate gross proceeds from the sale of the Common Shares under the Offering and a corporate finance fee of $12,500.The Corporation also granted stock options to the directors and officers of the Corporation exercisable to acquire up to an aggregate of 300,000 Common Shares at any time until December 14, 2032 at a price of $0.10 per Common Share. The Common Shares are expected to commence trading on Exchange under the stock symbol \"CCIC\" today.For further information please see the final prospectus of the Corporation dated October 20, 2022, filed on SEDAR at www.sedar.com.For further information please contact:John TravagliniChief Executive OfficerTel: 416-861-1100Cautionary NotesThe information in this news...

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