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Wangton Capital Corp. Completes First Tranche of Non-Brokered Private Placement and Announces Changes to Board of Directors
(via Thenewswire.ca) Vancouver, BC / T heNewswire / January 25, 2016 - Wangton Capital Co...
About this update from Wangton Capital Corp.
[{"type":"text","content":"Wangton Capital Corp. Completes First Tranche of Non-Brokered Private Placement and Announces Changes to Board of Directors(via Thenewswire.ca)\n\n \nVancouver, BC / TheNewswire / January 25, 2016 - Wangton Capital Corp. (\"Wangton\" or the \"Company\") (WT.H:NEX) is pleased to announce that further to its news releases dated November 27, 2015 and October 20, 2015, the Company has closed the first tranche of its previously announced non-brokered private placement offering of common shares (the \"Offering\"). The first tranche closing consisted of the sale of 4,391,733 common shares at a price of $0.15 per common share for gross proceeds of $658,759.96.\n\n\n \nIn connection with the Offering, the Company has paid cash commissions in the aggregate amount of $8,925.\n\n\n \nThe Company expects to close a second and final tranche of the Offering in the coming weeks.\n\n\n \nAll securities issued in connection with the Offering will be subject to a statutory hold period ending on May 26, 2016 in accordance with applicable securities legislation. The net proceeds from the Offering will be used by the Company for potential acquisitions and general working capital.\n\n\n \nThe Company expects to resume trading on NEX at the opening of the market on Wednesday, January 27, 2016.\n\n\n \nIn addition, the Company announces the resignation of Robert Naso from the Board of Directors of the Company effective January 25, 2016. The Company thanks Mr. Naso for his time and efforts during the duration of his directorship and wishes him well in future endeavours. Furthermore, the Company is pleased to announce that Jerry Grafstein, Q.C. and Cyrus Driver have been appointed to the Board of Directors effective January 25, 2016.\n\n\n \nThe Hon. Jerry S. Grafstein, Q.C. has wide-ranging legal and business experience in all aspects of media. Mr. Grafstein was a co-founder of a range of media companies, focusing on broadcasting, cable, communications, and publication enterprises in Canada, the USA, the UK and South America, which included Canbras Communications Corporation (which became Brazil's third largest cable MSO and was listed on the Toronto Stock Exchange) and CUC Broadcasting Limited (Canada's fifth largest cable MSO before it was acquired by Shaw Communications in 1995). He recently co-founded on-line news sites from Canada, USA, Brazil, Chin...