Exclamation Investments Corporation Announces Closing of Private Placementadmin
Exclamation Investments Corporation Announces Closing of Private Placement
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Toronto, Ontario CANADA, November 26, 2013 /FSC/ – Exclamation Investments Corporation (XI – TSX Venture), (“exclamation” or the “Company”), is pleased to announce it has completed a non-brokered private placement (the “Private Placement”) of an aggregate of 3,000,000 common shares of the Company (the “Common Shares”) at $0.10 per Common Share for gross proceeds of $300,000.
In connection with the Private Placement, the Company paid a cash finder’s fee to an arm’s length party in the amount of $5,000. All Common Shares issued in connection with the Private Placement are subject to a statutory hold period that expires on March 27, 2014, in accordance with applicable securities legislation. The net proceeds of the Private Placement will be used to fund new business creation, investments and general working capital. The Private Placement remains subject to final approval of the TSX Venture Exchange (“TSX-V”).
Pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101″), the Private Placement constitutes a “related party transaction” as an insider of the Company subscribed for 1,045,000 Common Shares, or approximately 35% of the total number of Common Shares issued pursuant to the Private Placement. The Company is relying on exemptions from the formal valuation and minority approval requirements of MI 61-101, based on a determination that the securities of the Company are only listed on the TSX-V and that the fair market value of the Private Placement, insofar as it involves interested parties, does not exceed $2,500,000 and/or 25% of the market capitalization of the Company at the time the Private Placement was initially announced. The Private Placement was approved by all of the independent directors of the Company.
ABOUT EXCLAMATION INVESTMENTS CORPORATION
exclamation Investments is a business creator that conceives and develops paradigm-shifting businesses in its roles of seed investor, founder and active partner. Leveraging its trans-Atlantic network to develop new business concepts, and its proven process for transforming ideas and capital into profits, exclamation shareholders participate from the founder stage as they ‘get in’ at a low cost before significant value is established, and are positioned to ‘exit’ and realize gains when value is maximized offering potential returns significantly higher than traditional venture capital and private equity. For more information about exclamation, visit www.exclamation.com.
Except for statements of historical fact contained herein, the information in this press release constitutes “forward-looking information” within the meaning of Canadian securities law. Such forward-looking information may be identified by words such as “anticipates”, “plans”, “proposes”, “estimates”, “intends”, “expects”, “believes”, “may”, “will” and include without limitation, statements regarding the terms of the Private Placement and the completion of the proposed Private Placement. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, fluctuations in the world market and stock market volatility. Most of these factors are outside the control of the Company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise. Additional information identifying risks and uncertainties is contained in the Corporation’s filings with the Canadian securities regulators, which filings are available at www.sedar.com.
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
For more information, please contact:
Exclamation Investments Corporation
Daniel Shields, Chief Financial Officer
t : 1 (888) 838-1666
to view the press release as a PDF file, please click on the following link:
Source: Exclamation Investments Corporation (TSX-V XI) www.exclamation.com
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Posted: November 26th, 2013 under FSCWIRE.