TSX VENTURE EXCHANGE: RA
TORONTO, May 15 /CNW/ - RDS Acquisition Corp. ("RDS") (TSX Venture: RA)
is pleased to announce that it has completed its initial public offering as a
capital pool company ("CPC").
On May 10, 2006 RDS completed an initial public offering of 2,000,000
common shares at a price of $0.10 per share for gross proceeds to RDS of
$200,000 to purchasers in Ontario, Alberta and British Columbia. Blackmont
Capital Inc. acted as agent in respect of the offering and received a cash
commission, as well as an option to acquire 10% of the aggregate number of
shares sold pursuant to the offering for a period of 24 months from the date
of listing of the common shares on the TSX Venture Exchange (the "Exchange")
at an exercise price of $0.10 per common share.
RDS is in the process of filing the requisite post-closing documentation
with the Exchange in order to obtain final approval of the listing of the
common shares.
The directors and officers of RDS are Ronald D. Schmeichel, Scott A.
Dick, and Mario M. Kulas. Detailed information regarding each director is
contained within the Prospectus, which is available to the public at
www.sedar.com.
The TSX Venture Exchange does not accept responsibility for adequacy or
accuracy of this release
