|By Marketwired .||
|August 21, 2014 01:23 PM EDT||
CALGARY, ALBERTA -- (Marketwired) -- 08/21/14 -- Maestro Capital Corporation ("Maestro" or the "Corporation") (TSX VENTURE:MCP) announces it has completed its initial public offering (the "Offering") raising gross proceeds of $400,000, pursuant to a final prospectus dated July 9, 2014. A total of 4,000,000 common shares in the capital of the Corporation (the "Shares") were subscribed for at a price of $0.10 per Share. PI Financial Corp. ("PI") acted as the agent for the Offering. PI received a cash commission equal to 10% of the gross proceeds of the Offering, a corporate finance fee of $10,000 plus HST and an option to purchase up to 400,000 Shares at a price of $0.10 per Share for a period of two years.
The Corporation now has 6,000,000 Shares issued and outstanding, with the directors and officers of Maestro, in aggregate, holding 2,000,000 Shares which are subject to escrow restrictions.
Upon the filing of the final prospectus, Maestro granted 600,000 incentive stock options to its directors and officers which are exercisable for a period of ten years from the date of the grant at an exercise price of $0.10 per Share.
The Shares have been listed on the TSX Venture Exchange Inc. and subsequently halted pending delivery of certain documents in connection with the closing of the Offering and will begin trading today under the stock symbol MCP.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
The Corporation is a capital pool company (a "CPC") that has not commenced commercial operations and has no assets other than cash. Except as specifically contemplated in the TSX Venture Exchange Inc.'s CPC policy, until the completion of its qualifying transaction, the Corporation will not carry on business, other than the identification and evaluation of businesses or assets with a view to completing a proposed qualifying transaction.
Neither 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 news release.
Maestro Capital Corporation
President and Chief Executive Officer
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