Almo Closes First Tranche of Private Placement and Enters into Investor Relations Agreement
ACCESS Newswire
VANCOUVER, BC / ACCESSWIRE / June 10, 2016 / Almo Capital Corp. (APT.V) (the "Company") is pleased to announce that it has closed the first tranche of the non‑brokered private placement offering of up to $250,000 (3,333,333 units at a price of $0.075 per unit) that was announced on April 14, 2016 and May 13, 2016. In this first tranche the Company issued 1,976,000 units at a price of $0.075 per unit for gross proceeds of $148,200. Each unit is comprised of one common share and one share purchase warrant. Each warrant entitles the holder to acquire one additional share in the capital of the Company at a price of $0.15 until June 10, 2018. Finder's fees of 7% were paid to Canaccord Genuity Corp. ($3,675), PI Financial Corp. ($2,105) and Leede Jones Gable Inc. ($1,050).
The common shares comprising the units and any shares issued upon the exercise of any warrants are subject to a hold period expiring at midnight on October 9, 2016.
The Company also announces that it has entered into an investor relations agreement with Soar Financial Partners, a brand of NorthStar Communicatins GmbH, ("Soar"). In consideration of Soar providing investor relations services to the Company, the Company will pay to Soar a monthly fee of 2,000 euros and reimburse Soar for certain out of pocket expenditures incurred on behalf of the Company. In addition, Soar will be paid 2,500 euros per "road show" day. The investor relations services include: conducting corporate communications and information dissemination services with a view to raising public awareness of the Company; analyzing the Company, its industry and peers, to identify audiences, channels and communication strategy; and responding to all inquiries from current and potential shareholders concerning the Company. In addition, the Company has agreed to grant 100,000 options to Soar, exercisable at a price of $0.10 per share in accordance with the Company's stock option plan. The options will expire 2 years from the date of grant. The initial term of the agreement is for three months and will the agreement automatically renew on a quarterly basis until terminated. The agreement is subject to regulatory approval.
Soar, a firm headquartered in Eppertshausen, Germany, provides investor relations and public relations services to its international clients. The principals of Soar are Kai Hoffmann & Frank Hoffmann. Soar is located at Auf der Wilze 12, 64859 Eppertshausen, Germany. Soar does not have any interest, direct or indirect, in the Company or its securities, other than the stock options as described above.
For further information, please contact:
David Robinson, Chief Executive Officer Almo Capital Corp. Phone: 403.399.9047 Email: drrhorizon@gmail.com
The TSX Venture Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this release. Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains forward‑looking statements. All statements, other than statements of historical fact, constitute "forward‑looking statements" and include any information that addresses activities, events or developments that the Company believes, expects or anticipates will or may occur in the future including the Company's strategy, plans or future financial or operating performance and other statements that express management's expectations or estimates of future performance.
Forward‑looking statements are generally identifiable by the use of the words "may", "will", "should", "continue", "expect", "anticipate", "estimate", "believe", "intend", "plan" or "project" or the negative of these words or other variations on these words or comparable terminology. These statements, however, are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed, implied by or projected in the forward‑looking information or statements. Important factors that could cause actual results to differ from these forward‑looking statements include but are not limited to the ability of the Company to attract financing and the general market conditions of the industry in which the Company operates and the other factors discussed in the sections relating to risk factors discussed in the Company's continuous disclosure filings on SEDAR.
There can be no assurance that any forward‑looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader should not place any undue reliance on forward‑looking information or statements. Except as required by law, the Company does not intend to revise or update these forward‑looking statements after the date of this document or to revise them to reflect the occurrence of future unanticipated events.
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