TSX-V: RUM
TORONTO, Dec. 11 /CNW/ - Humber Capital Corporation ("Humber") is pleased to announce that the TSX Venture Exchange (the "Exchange") has issued a Final Exchange Bulletin with respect to its recently completed acquisition (the "Acquisition") of all of the issued and outstanding securities of Anderson's Liquor Inc., an independent liquor retailer operating in the Province of Alberta. The Acquisition, together with a concurrent brokered private placement of common shares (the "Private Placement"), collectively constituted Humber's 'Qualifying Transaction' (the "Transaction") under Exchange Policy 2.4 - Capital Pool Companies. The Final Exchange Bulletin indicates that Humber's common shares will commence trading on the Exchange under the symbol "RUM" on December 12, 2008.
Details on the Transaction and related matters can be found in the filing statement of Humber dated October 28, 2008 (the "Filing Statement"), which is available for review at www.sedar.com. and in Humber's press release of December 1, 2008 announcing the completion of the Transaction. In addition, Humber wishes to clarify that of the 5,555,556 common shares previously announced as issued pursuant to the Private Placement, 685,715 shares were issued in satisfaction of certain professional fees incurred by Humber in connection with the Transaction and 4,869,841 shares were issued to subscribers for cash consideration. In particular, Humber engaged National Bank Financial Inc. ("NBF") pursuant to an engagement letter dated September 12, 2008 to provide financial analysis and advice on financing, structuring, planning, negotiating and implementing the Transaction. As compensation for these services, NBF was entitled to receive a fee of $225,000 upon completion of the Transaction. Humber satisfied $200,000 of this fee at closing by issuing 634,921 common shares to NBF.
The TSX Venture Exchange Inc. has in no way passed upon the merits of the Transaction and has neither approved nor disapproved of the contents of this press release.
%SEDAR: 00026544E