Statement re Closing of IPO and Listing on TSX ...

About this update from Globalworth Real Estate Investments Limited

[{"type":"text","content":"\n \n Genesis Worldwide Inc. Announces Successful Closing of Initial Public\n Offering and Listing on TSX and AIM\n\n /NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRES OR FOR DISSEMINATION IN\n THE UNITED STATES/\n\n TORONTO, July 3 /CNW/ - Genesis Worldwide Inc. (the \"Corporation\" or\n\"Genesis\") is pleased to announce that it has completed its initial public\noffering of 10,000,000 common shares at a price of $2.00 (GBP0.94) per common\nshare (the \"Offering\") for aggregate gross proceeds of $20,000,000. The common\nshares will begin trading today on the Toronto Stock Exchange and the AIM\nmarket of the London Stock Exchange under the symbol \"GWI\".\n The Offering was made through an underwriting syndicate which was led by\nCanaccord Adams and included CIBC World Markets Inc. and TD Securities Inc.\n\n Transaction Highlights\n\n - The Offering consisted of the new issue of 10,000,000 common shares\n - The Corporation's common shares will begin trading on the Toronto\n Stock Exchange and on the AIM market of the London Stock Exchange\n today\n - It is intended that the funds raised from the new issue of shares will\n be used:\n - to fund an expansion of the Corporation's sales, marketing and\n customer support capabilities\n - to fund an expansion of the sales, marketing and project\n management capabilities for the Corporation's structural products\n - to install a complete coil-to-panel line at the Corporation's new\n Vaughan, Ontario facility\n - to fund on-going research and development\n - to repay the outstanding principal, interest and penalties under\n the Corporation's outstanding debentures\n - for general corporate purposes\n - Lead Underwriter to the transaction was Canaccord Adams\n - CIBC World Markets Inc. and TD Securities Inc., together with the Lead\n Underwriter, were the Underwriters\n\n Vince Mifsud, President and Chief Executive Officer of Genesis,\ncommented, \"We are extremely pleased to have achieved this important milestone\nin the development of our company. We intend to focus on providing the Genesis\nSolution, our proprietary green structural building technology, to those\ncompanies globally ready to embrace the movement toward sustainable building\nmaterials and methodologies. It is expected that the proceeds from our initial\npublic offering will be primarily used to execute our international ...

More updates from Globalworth Real Estate Investments Limited