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by Stockwatch Business Reporter

The TSX Venture Exchange fell 14.88 points to 526.62 Monday. Joseph Mimran and Camillo di Prata have filed a final prospectus to list a special purpose acquisition corporation, Gibraltar Growth Corp. The SPAC's brokers, three banks plus Cantor FitzGerald & Co., will sell 10 million units at $10 for $100-million. They will also have an overallotment option to sell up to 1.5 million units for another $15-million. Gibraltar anticipates closing the offering by the end of this week and it will begin trading shortly afterward under the ticker symbol GBG. This will be the fifth SPAC to list on the Toronto Stock Exchange this year, with one more, David Mongeau's Avingstone Acquisition Corp., on the way.

Mr. Mimran and Mr. di Prata are the SPAC's co-chief executive officers. Mr. Mimran has founded several well-known fashion companies, including Club Monaco, Alfred Sung and Joe Fresh. He resigned from Joe Fresh last March, leaving the company with its clothes available in 350 Loblaw stores and 20 separate Joe Fresh stores. Mr. di Prata is the former chief of corporate and investment banking at National Bank Financial. In 2013 he founded Gibraltar & Co. Inc., a private equity firm in Toronto and the sponsor of Mr. Mimran and Mr. di Prata's SPAC. Gibraltar Growth will hunt around North America for "consumer-facing companies with an enterprise value of up to $750-million" for a qualifying transaction target.

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