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ECC Ventures 4 Corp. Completes Initial Public Offering
VANCOUVER, BC / ACCESSWIRE / June 15, 2021 / ECC Ventures 4 Corp. (the “ Company &...
About this update from Ecc Ventures 4 Corp.
[{"type":"text","content":"ECC Ventures 4 Corp. Completes Initial Public OfferingVANCOUVER, BC / ACCESSWIRE / June 15, 2021 / ECC Ventures 4 Corp. (the “Company”) (TSXV:ECCF.P) is pleased to announce that, on June 15, 2021, it completed an initial public offering (the “Offering”) in British Columbia and Alberta of 2,000,000 common shares (“Common Shares”) in the capital of the Company at a price of $0.10 per Common Share for gross proceeds of $200,000 pursuant to a final prospectus dated May 6, 2021 (the “Prospectus”). Following closing of the Offering, a total of 5,650,000 Common Shares are issued and outstanding, of which 2,000,000 are currently held in escrow pursuant to the policies of the TSX Venture Exchange (the “TSX-V”), as disclosed in the Prospectus.The net proceeds of the Offering, together with the proceeds from prior sales of Common Shares will be used by the Company to identify and evaluate assets or businesses for acquisition with a view to completing a Qualifying Transaction under the TSX-V's capital pool company program.Pursuant to the agency agreement dated May 6, 2021, Research Capital Corporation (the “Agent”) acted as agent for the Offering. In connection with the Offering, the Company granted to the Agent, options to acquire up to an aggregate of 200,000 Common Shares at a price of $0.10 per Common Share for a period of 60 months from the date the Common Shares are listed on the TSX-V. Furthermore, the Agent also received a cash commission of $20,000, representing 10% of the aggregate gross proceeds of the Offering, and a corporate finance fee of $12,000 plus applicable taxes.At the closing of the Offering, the Company also granted stock options (the “Options”) to directors of the Company to acquire up to an aggregate of 565,000 Common Shares. Each Option is exercisable to acquire one Common Share at a price of $0.10 any time prior to June 15, 2031.The TSX-V has accepted the Company's listing application and the Common Shares are anticipated to resume trading on the TSX-V at the opening of business on June 17, 2021, under the trading symbol ECCF.P. The Company's CUSIP is 268275104 and ISIN is CA2682751045.For further information please see the Prospectus, available under the Company's profile on ...