Vancouver, British Columbia--(Newsfile Corp. - September 17, 2019) - Daura Capital Corp. (TSXV: DUR.P) (the "Company"), a capital pool company, is pleased to announce that it successfully completed its initial public offering (the "IPO") of 2,000,000 common shares of the Company at a price of $0.10 per share for gross proceeds of $200,000 (the "Proceeds").
Leede Jones Gable Inc. acted as agent (the "Agent") for the IPO. The Company paid to the Agent a cash commission equal to 10% of the Proceeds and granted to the Agent a non-transferable option to purchase up to 200,000 common shares of the Company at a price of $0.10 per common share until September 17, 2021. The Agent was also paid a corporate finance fee of $10,000 plus GST, and was reimbursed for its expenses in connection with the IPO.
The Company is also pleased to announce that it has received approval of its application to list its common shares on the TSX Venture Exchange ("TSX-V"). The Company's common shares were listed on the TSX-V on September 17, 2019 and immediately halted pending closing of the IPO. The Company's common shares will commence trading on the TSX-V on September 17, 2019 under the trading symbol "DUR.P".
About Daura Capital Corp.
Daura Capital Corp. (the "Company") is a Capital Pool Company within the meaning of the policies of the TSX Venture Exchange (the "TSX-V"). The Company has not commenced operations and has no assets other than cash.
The Company intends to use the net proceeds of the IPO to identify and evaluate potential Qualifying Transactions under the policies of the TSX-V.
Forward Looking Information
Information set forth in this news release contains forward-looking statements. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. The Company cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among other things: risks and uncertainties relating to the Company's expectation to list its common shares on the TSX-V, its ability to identify, evaluate and complete a Qualifying Transaction and other risks and uncertainties, including those described in the Company's Prospectus dated July 26, 2019 filed with the Canadian Securities Administrators and available on www.sedar.com. Accordingly, actual and future events, conditions and results may differ materially form the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.
For further information please contact:
Daura Capital Corp.
543 Granville, Suite 501
Vancouver BC V6C 1X8
William T.P. Tsang, CFO and Secretary
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 RELEASE.
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