Business
Sayward Capital Corp. Announces Closing of Initial Public Offering
Calgary, Alberta--(Newsfile Corp. - July 19, 2021) - Sayward Capital Corp. (TSXV: SAWC) (the "...
About this update from Sayward Capital Corp.
[{"type":"text","content":"Sayward Capital Corp. Announces Closing of Initial Public OfferingCalgary, Alberta--(Newsfile Corp. - July 19, 2021) - Sayward Capital Corp. (TSXV: SAWC) (the \"Corporation\") is pleased to announce that it has successfully completed its initial public offering of 5,000,000 common shares of the Corporation (\"Common Shares\") at a price of $0.10 per Common Share for gross proceeds of $500,000 (the \"Offering\"). After completion of the Offering, the Corporation now has 8,000,000 Common Shares issued and outstanding.Haywood Securities Inc. (the \"Agent\") acted as the agent for the Offering and in connection therewith, the Corporation granted the Agent non-transferable warrants (the \"Agent's Warrants\") which entitle the holder to purchase an aggregate of 500,000 Common Shares at an exercise price $0.10 per Common Share. The Agent's Warrants will expire 60 months from the date the Common Shares are listed on the TSX Venture Exchange (the \"Exchange\"). In connection with the Offering, the Agent also received a cash commission equal to 10% of the gross proceeds of the Offering. Concurrent with the closing of the Offering, the Corporation also granted options to acquire an aggregate of 500,000 Common Shares at an exercise price of $0.10 per Common Share to directors and officers of the Corporation, which options expire five years from the date of grant. The Corporation is a \"capital pool company\" and intends to use the net proceeds of the Offering to identify and evaluate assets or businesses for acquisition with a view to completing a \"Qualifying Transaction\" under the policies of the Exchange. On July 15, 2021, the Exchange issued a bulletin for the listing of the Common Shares as of market open on July 19, 2021, and immediately halting trading pending completion of closing. The Common Shares are expected to resume trading under the trading symbol \"SAWC\" on July 19, 2021.Investors are cautioned that trading in the securities of a capital pool company should be considered highly speculative.For further information, please contact: Sayward Capital Corp.Rick Manhas - President, Chief Executive Officer, Chief Financial Officer, Corporate Secretary, and DirectorEmail: [email protected] Information Cautionary StatementCertain statements contained in this press release constitute forward-looking information. Th...