06:27:46 EDT Fri 19 Apr 2024
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Haw Capital closes $354,000 initial public offering

2017-03-21 16:52 ET - News Release

Mr. David Hyman reports

HAW CAPITAL CORP. ANNOUNCES CLOSING OF INITIAL PUBLIC OFFERING

Haw Capital Corp., a capital pool company, has submitted all materials for final listing approval for its common shares to the TSX Venture Exchange and, on March 21, 2017, closed its initial public offering of 3.54 million common shares at 10 cents per share for aggregate gross proceeds of $354,000 through Canaccord Genuity Corp., which acted as agent for Haw.

Upon closing of the offering, Haw granted 1.2 million incentive stock options to its directors and officers, which options are exercisable within 10 years from the date of grant at an exercise price of 10 cents per share. In addition, Haw granted an aggregate of 354,000 options to Canaccord Genuity, which options are exercisable until 24 months after the date of listing of the common shares of Haw on the exchange at an exercise price of 10 cents per share. Following completion of the of its initial public offering, Haw now has 13.54 million common shares issued and outstanding (10 million of which are subject to escrow restrictions).

The only business of Haw is the identification and evaluation of assets or businesses with a view to completing a qualifying transaction as defined by the policies of the exchange. The proceeds raised under the offering will be used to pursue such qualifying transaction.

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