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PRESTWICK CAPITAL CORPORATION ANNOUNCES COMPLETION OF INITIAL PUBLIC OFFERING
PRESTWICK CAPITAL CORPORATION ANNOUNCES COMPLETION OF INITIAL PUBLIC OFFERING Canada Ne...
About this update from Legacy Gold Mines Ltd
[{"type":"text","content":"\n \n \n \n PRESTWICK CAPITAL CORPORATION ANNOUNCES COMPLETION OF INITIAL PUBLIC OFFERING\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 \n \n \n \n CALGARY, AB\n \n \n ,\n \n \n Aug. 1, 2023\n \n \n /CNW/ -\n \n Prestwick Capital Corporation Limited\n \n (TSXV: PWIK) (\"\n \n Prestwick\n \n \" or the \"\n \n Corporation\n \n \"), a capital pool company, is pleased to announce that it has completed its initial public offering of 2,000,000 common shares at the price of\n \n $0.10\n \n per common share for gross proceeds of\n \n $200,000\n \n (the \"\n \n Offering\n \n \" or the \"\n \n IPO\n \n \") and has filed for listing as a Capital Pool Company on the TSX Venture Exchange (the \"\n \n TSXV\n \n \"). Canaccord Genuity Corp. (the \"\n \n Agent\n \n \") acted as agent under the Offering. The common shares of Prestwick were approved for listing on the TSXV on\n \n July 31, 2023\n \n and are expected to commence trading on the TSXV on\n \n August 2, 2023\n \n under the trading symbol \"PWIK\".\n \n \n As a result of the closing of the Offering, Prestwick now has 11,050,100 common shares issued and outstanding (9,050,100 of which are subject to escrow restrictions), 200,000 common shares reserved for issuance upon the exercise of agent's options granted upon completion of the IPO (the \"\n \n Agent's Options\n \n \") and 1,105,000 common shares reserved for issuance upon the exercise of stock options issued to directors/officers of the Corporation.\n \n \n The Agent received a cash commission equal to 10% of the total gross proceeds of the IPO, a corporate finance fee and the Agent's Options exercisable at a price of\n \n $0.10\n \n per common share up to\n \n August 1, 2028\n \n .\n \n \n The net proceeds of the Offering will be used by the Corporation to identify and evaluate assets orbusinesses for acquisition with a view to completing a \"Qualifying Transaction\" under the Capital Pool Company program of the TSXV as disclosed in the Corporation's prospectus dated\n \n May 12, 2023\n \n .\n \n \n The following individuals comprise Pr...