MONTREAL, Oct. 2 /CNW Telbec/ - C Level Bio International Holding Inc.
("C Level"), a Capital Pool Company, is pleased to announce the closing of its
initial public offering of 6,500,000 Common Shares at a price of $0.10 per
share for a total amount of $650,000 to investors in Quebec, Ontario, Alberta
and British Columbia. Canaccord Adams ("Canaccord") acted as agent for
C Level. As a result of this issuance, C Level has 16,500,000 common shares
issued and outstanding. C Level also granted options to acquire an aggregate
of 1,650,000 common shares at an exercise price of $0.10 per share to
directors and officers of C Level and an agent's option to acquire an
aggregate of 650,000 common shares at an exercise price of $0.10 per share for
a period of 24 months to Canaccord. Canaccord also received an administration
fee and a cash commission equal to 10% of the proceeds of the offering.
In accordance with Policy 2.4 of the TSX Venture Exchange Inc. (the
"TSX V"), the common shares of C Level will be admitted for trading on the
TSX V under the ticker symbol CLV.P at the opening of the market on October 3,
2006.
About C Level
C Level will immediately commence identifying and evaluating firms and
assets with a view to completing a qualifying transaction as provided in
Policy 2.4 of the TSX V. C Level wishes to complete a qualifying transaction,
subject to regulatory approval, primarily within the Life Sciences industry,
without, however, excluding the possibility of affecting such a transaction
within a different sector of activity.
The TSX Venture Exchange Inc. does not accept responsibility for the
adequacy or accuracy of this press release.
