Toronto, Ontario--(Newsfile Corp. - October 16, 2015) - Added Capital Inc. (TSXV: AAD) ("Added" or the "Company") today announces that the Company is offering a non-brokered private placement of maximum of $500,000 (the "Financing"). The Company plans to issue up to 25,000,000 units ("Units") at a price of $0.02 per Unit. Each Unit will consist of one common share and one common share purchase warrant (a "Warrant"). Each Warrant will be exercisable at $0.02 per share on a pre-consolidation basis, expiring five years from the date of closing. Proceeds of the Financing will be used to settle existing debt and for working capital purposes.
The Company plans to hold a Special Meeting of Shareholders within six months of the Closing Date of the Financing to ask Shareholders to approve a share consolidation of the outstanding common shares of the Company on the basis of 1 new share for every 3 old shares, in accordance with the applicable securities legislation. The Financing is made available pursuant to the grant of a "discretionary waiver" of the TSX Venture Exchange's ("TSXV") minimum $0.05 pricing requirement and is subject to acceptance by the TSXV.
However, the Warrants may not be exercised into common shares in any portion unless and until the share consolidation is approved by the Shareholders of the Company and the share consolidation is completed, and thereafter the "post-consolidation" exercise price of the Warrants will be $0.06 per common share.
The Financing is subject to approval from the TSX Venture Exchange. All Units issued will be subject to a four-month hold period ending four months from the date of closing.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
About Added Capital Inc.
Added Capital Inc. is a financial advisory firm and merchant bank, with a specialization in mergers and acquisitions, merchant banking investments, risk arbitrage merger and acquisition investments, financial restructurings, proxy solicitation and information agent services.
FOR FURTHER INFORMATION PLEASE CONTACT:
Chairman and Chief Executive Officer