Toronto, Ontario--(Newsfile Corp. - August 15, 2017) - Gunpowder Capital Corp., (CSE: GPC) (CSE: GPC.PR.A) (OTC Pink: GNPWF) (FSE: YS6N), ("Gunpowder" or the "Corporation") announced today that it has conducted, and that it has closed, a non-brokered private placement raise where Seven Hundred and Ten Thousand Dollars ("$710,000.00") CDN was raised by issuing Seventy-One Thousand ("71,000") of the Corporation's "Class - A" Preferred Shares at a price of $10.00 CDN per share. The "Class - A" Preferred Shares will pay up to an 8% annual dividend to the holders of the preferred shares. The shareholders of the "Class - A" Preferred Shares will also see a 25% of after tax realized gains on any capital dispositions. No special voting rights will be granted to the holders of the "Class- A" Preferred Shares.
In connection with the closing of the Offering, Gunpowder paid finder's fees in the aggregate amount totaling Forty-Eight Thousand, Eight Hundred Dollars ("$48,800.00") CDN in connection with certain subscriptions for the Corporation's "Class-A" Preferred Shares. All "Class - A" Preferred Shares issued in connection with the closing of this placement will be subject to a four month plus one day hold period under applicable Canadian securities laws. Proceeds from this offering will be used exclusively for acquisitions and for general working capital purposes.
About Gunpowder Capital Corp.
Gunpowder Capital Corp., is a merchant bank and advisory services firm based in Toronto, Ontario, Canada. Gunpowder invests in both publicly traded and private businesses that have successful management teams and attractive economic models. Gunpowder partners with these businesses to support their growth initiatives with its proven methodology of appropriate financing and structured exits. Gunpowder offers debt financing, including mezzanine and bridge loans, equity financing and advisory services. Gunpowder is also building a portfolio of companies in which it takes a long term position and view.
For further information please contact:
Mr. Frank Kordy
CEO & Director
Gunpowder Capital Corp.
T: (647) 466-4037
Mr. Paul Haber
Gunpowder Capital Corp.
T: (416) 363-3833
Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although Management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such. Neither CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
- 30 -
Source: Newsfile Corp.