Business
Kadestone Capital Corp. Completes Initial Public Offering and Cornerstone Investment
Kadestone Capital Corp. Completes Initial Public Offering and Cornerstone Investment ...
About this update from Kadestone Capital Corp.
[{"type":"text","content":"\n \n \n \n Kadestone Capital Corp. Completes Initial Public Offering and Cornerstone Investment\n \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 \n \n \n \n \n \n Canada NewsWire\n \n \n VANCOUVER, BC, Oct. 29, 2020\n \n \n \n \n \n SHARES TO COMMENCE TRADING ON TSX–V ON\n \n NOVEMBER 2, 2020\n \n – SYMBOL \"KDSX\"\n \n \n \n \n VANCOUVER, BC\n \n ,\n \n Oct. 29, 2020\n \n /CNW/ - Kadestone Capital Corp. (\"Kadestone\" or the \"Company\"), was established to pursue the investment in, development, acquisition, and management of residential and commercial income producing properties within major urban centres and high-growth, emerging markets in\n \n Canada\n \n . The Company announced today the successful closing of its initial public offering (the \"Offering\") and cornerstone placement (the \"Cornerstone Placement\") of common shares of the Company (\"Common Shares\"). Kadestone issued 8,306,450 Common Shares pursuant to the Offering and 9,200,000 Common Shares pursuant to the Cornerstone Placement at a price of\n \n $0.80\n \n per Common Share for total gross proceeds of\n \n $14,005,160\n \n .\n \n \n \n \n \n \n \n \n \n The Common Shares will be listed on the TSX Venture Exchange under the symbol \"KDSX\".\n \n \n \n Brent Billey\n \n , CEO of Kadestone said, \"Completing this IPO is an exciting milestone for Kadestone. We have assembled an exceptional group of Board Directors and Strategic Partners that will guide and enable the Company to accelerate its presence and execute on the opportunities presented in the marketplace today.\"\n \n \n Leede Jones Gable Inc. (\"Leede\"), acted as Kadestone's agent in respect of the Offering. Kadestone paid Leede an aggregate cash commission of\n \n $450,000\n \n . In addition, Kadestone issued Leede a non– transferable compensation option entitling Leede to purchase 415,322 Common Shares at a price of\n \n $0.80\n \n per Common Share until\n \n October 29, 2022\n \n . In connection with closing of the Offering, Leede also received a corporate finance fee of\n \n $50,000\n \n plus GST. The net proceeds of the Off...