Toronto, Ontario--(Newsfile Corp. - July 6, 2017) - Gunpowder Capital Corp. (CSE: GPC) (CSE: GPC.PR.A) (OTC Pink: GNPWF) (FSE: YS6N) ("Gunpowder" or the "Corporation") announced today that its client, Advantagewon Oil Corp. ("Advantagewon"), has obtained a receipt from the Ontario Securities Commission for its final Prospectus. As a result, Advantagewon has become a reporting issuer in the Province of Ontario and Advantagewon's Common Shares have been approved for listing on the Canadian Securities Exchange ("CSE").
Advantagewon will issue a press release when the CSE has determined the listing date and has assigned the Corporation a ticker symbol.
The Board of Directors of Gunpowder has declared an aggregate dividend in kind of One Million, Six Hundred and Sixty-Six Thousand, Six Hundred and Sixty-Seven ("1,666,667") Advantagewon Common Shares held by Gunpowder to be distributed to all Gunpowder Common Share shareholders. The dividend in kind will be payable on July 31, 2017 to Gunpowder Common Share shareholders of record on July 14, 2017. As a result, every such Common Share shareholder of record of Gunpowder will receive a dividend in kind of Fifty-Four ("54") Advantagewon Common Shares for every One Thousand ("1,000") Gunpowder Common Shares held by such shareholder.
Gunpowder would also like to remind its shareholders that as part of its compensation agreement with Advantagewon, and upon successful completion of Advatagewon's going public endeavor, Gunpowder will receive Three Million ("3,000,000") Common Shares of Advantagewon as additional compensation for its services. These shares will be booked as revenue in the third quarter of fiscal 2017.
Mr. Paul Haber Stated: "We are very pleased to have achieved this important milestone and completed the listing of Advantagewon. We believe that Gunpowder offers an attractive go public model for certain junior issuers and we expect that with our first transaction successfully behind us that we will be able to attract additional clients to our model."
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.
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