Toronto, Ontario / ACCESSWIRE / JULY 31, 2014 / Added Capital Inc. (TSXV: AAD) ("Added Capital" or the "Company") today announced that the Company proposes to complete a non-brokered private placement of up to a maximum of $500,000 (the "Financing"). The Financing will involve the issuance of up to 10 million units ("Units") at a price of $0.05 per Unit. Each Unit will consist of one common share and one common share purchase warrant (a "Warrant"). Each Warrant will be exercisable at a price of $0.05 per share and will expire five years from the date of closing. Proceeds of the Financing will be used to reduce the Company’s interest-bearing short-term loans outstanding and for working capital purposes. Insiders are expected to subscribe for up to $55,000 of the Units being offered in the Financing.
The Financing is subject to approval from the TSX Venture Exchange. All Units issued will be subject to a four-month hold period ending four months and one day from the date of closing.
Neither the 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.
About Added Capital Inc.
Added Capital Inc. is a financial advisory firm and merchant bank, with a specialization in mergers and acquisitions, merchant banking investments, risk arbitrage merger and acquisition investments, financial restructurings, proxy solicitation and information agent services.
FOR FURTHER INFORMATION PLEASE CONTACT:
Andrew Hilton Chief Financial Officer 416-606-8833