Business
Anacott Acquisition Corporation Completes Initial Public Offering as a Capital Pool Company and Lists on the TSX Venture Exchange
Anacott Acquisition Corporation Completes Initial Public Offering as a Capital Pool Compa...
About this update from Ramp Metals Inc
[{"type":"text","content":"\n \n \n \n Anacott Acquisition Corporation Completes Initial Public Offering as a Capital Pool Company and Lists on the TSX Venture Exchange\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 VANCOUVER, BC\n \n ,\n \n April 13, 2021\n \n /CNW/ - Anacott Acquisition Corporation (the \"\n \n Company\n \n \" or \"\n \n Anacott\n \n \") is pleased to announce that on\n \n April 13, 2021\n \n , it successfully completed its initial public offering (\"\n \n IPO\n \n \") to raise gross proceeds of\n \n $200,000\n \n pursuant to the final prospectus (\"\n \n Prospectus\n \n \") dated\n \n March 17, 2021\n \n . A total of 2,000,000 common shares of the Company (\"\n \n Shares\n \n \") were subscribed for at a price of\n \n $0.10\n \n per Share. After completion of the IPO, the Company now has 4,400,000 Shares issued and outstanding, with the directors and officers of the Company, in aggregate, holding 2,000,000 Shares, which Shares are subject to escrow restrictions pursuant to the policies of the TSX Venture Exchange (\"\n \n TSXV\n \n \").\n \n \n Canaccord Genuity Corp. (the \"\n \n Agent\n \n \"), of\n \n Vancouver, British Columbia\n \n , acted as agent for the IPO and received a cash commission of\n \n $20,000\n \n being 10% of the gross proceeds raised in the IPO, a corporate finance fee of\n \n $15,000\n \n , and agent's warrants to purchase up to 200,000 Shares at a price of\n \n $0.10\n \n per Share exercisable until the date that is 5 years after the Company's Shares are listed on the TSXV. The Company also granted incentive stock options to its directors and officers to purchase up to 400,000 Shares, which are exercisable at a price of\n \n $0.10\n \n per Share until\n \n November 26, 2025\n \n , which are subject to escrow restrictions pursuant to the policies of the TSXV.\n \n \n The Shares were listed on the TSXV at the market open on\n \n April 13, 2021\n \n , and immediately halt traded pending closing of the IPO. The halt is expected to be lifted and trading of the Shares is expected to commence on or about\n ...