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TSX VENTURE EXCHANGE: XIB.P
VANCOUVER, Dec. 12, 2018 /CNW/ - XIB I Capital Corp. ("XIB")
(TSX Venture: XIB.P) is pleased to announce that it has
completed its initial public offering as a capital pool company
("CPC").
On December 12, 2018, XIB
completed an initial public offering of 3,000,000 common shares at
a price of $0.10 per share for gross
proceeds to XIB of $300,000 to
purchasers in Alberta,
British Columbia and
Ontario. PI Financial Corp. acted as sole lead agent in
respect of the offering and received a cash commission, a corporate
finance fee and an option to acquire 10% of the aggregate number of
shares sold pursuant to the offering for a period of 24 months from
the date of listing of the common shares on the TSX Venture
Exchange (the "Exchange") at an exercise price of $0.10 per common share.
XIB has filed the requisite post-closing documentation with the
Exchange in order to obtain final approval of the listing of the
common shares.
The directors and officers of XIB are Ted Browne, Jonathan
Conlin, Frederic Leigh,
Michael Young and Fabian Monaco. Detailed information
regarding each director is contained within the final prospectus
dated November 9, 2018, which is
available to the public at www.sedar.com.
These securities have not been and will not be registered
under the United States Securities Act of 1933, as amended, or the
securities laws of any state, and may not be offered or sold in
the United States unless an
exemption from registration is available. This press release
does not constitute an offer to sell or the solicitation of any
offer to buy these securities in the
United States.
Investors are cautioned that trading in the securities of a
CPC should be considered highly speculative.
XIB is a CPC governed by the policies of the Exchange.
XIB's principal business is the identification and evaluation of
assets or businesses with a view to completing a Qualifying
Transaction.
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.
Notice on 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. XIB 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 XIB's control. Such factors include, among
other things: XIB's ability to identify, evaluate and complete a
Qualifying Transaction and other risks and uncertainties, including
those described in XIB's final prospectus dated November 9, 2018 filed with the Canadian
Securities Administrators and available on www.sedar.com.
Accordingly, actual and future events, conditions and results may
differ materially from the estimates, beliefs, intentions and
expectations expressed or implied in the forward looking
information. Except as required under applicable securities
legislation, XIB undertakes no obligation to publicly update or
revise forward-looking information.
SOURCE XIB I Capital Corp.