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Vancouver, BC / TheNewswire / April 21, 2015 - Pacific-Link Capital Inc. (TSX-V: PCL.H) (the "Company"), a capital pool company, announces that the following matters have been approved by its shareholders at its annual general and special meeting of shareholders held on February 25, 2015 (the "Meeting").
Consolidation
The Company proposes to consolidate (the "Consolidation") its common shares (the "Common Shares") in the capital of the Company on a seven for one basis effective April 23, 2015, subject to the approval of the TSX Venture Exchange (the "Exchange").
Management and the directors of the Company believe that the Consolidation is in the best interests of the Company and its shareholders and is necessary in order to better attract equity financing.
Name Change
Concurrently with the Consolidation, the Company intends to change its name to Miza Enterprises Inc., subject to the approval of the Exchange.
Private Placement
Post the Consolidation, the Company intends to raise, by way of a non-brokered private placement (the "Private Placement"), of up to 10,000,000 post-Consolidation Common Shares at a price of $0.05 per Common Share, for aggregate proceeds of up to $500,000. The proceeds of the Private Placement will be used for general working capital and towards identifying and evaluating a Qualifying Transaction of the Company. The Private Placement is subject to the approval of the Exchange.
The Company currently has 6,530,001 Common Shares issued and outstanding. Following the Consolidation and the Private Placement, the Company will have approximately 10,932,857 Common Shares issued and outstanding on a post-Consolidation basis.
Bonus Share Issuance
Further, the Company intends to issue 57,142 Common Shares on a post-Consolidation basis (the "Bonus Shares") to a private lender in consideration for facilitating an unsecured loan (the "Loan") in the amount of $100,000 towards working capital of the Company. The Loan bears an interest rate of 12% per annum. The issuance of the Bonus Shares will be subject to the approval of the Exchange.
On behalf of the board of
PACIFIC-LINK CAPITAL INC.
Per: "Patrick Wong"
Patrick Wong
Director and Chief Executive Officer
For further information, please contact Patrick Wong at:
c/o 1708 West 6th Avenue
Vancouver, British Columbia
Canada V6J 5E8
Direct: (604) 739-9500
Fax: (604) 739-9394
Email: patrick@wongrobinson.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the polices of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Forward-Looking Statements: This news release includes certain forward-looking information and forward-looking statements (collectively "Forward-Looking Statements") concerning the future performance of the Company's business, operations and financial performance and condition, as well as management's objectives, strategies, beliefs and intentions. Forward-Looking Statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-Looking Statements are based on the current opinions and expectations of management. All Forward-Looking Statements are inherently uncertain and subject to a variety of risks and uncertainties. Should one or more risks and uncertainties materialize or should any assumptions prove incorrect, then actual events or results may differ materially from those expressed or implied in the Forward-Looking Statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these Forward-Looking Statements, except as required by applicable law.
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