- Fife Capital (FFC.P) has completed its initial public offering of 2,150,000 common shares for gross proceeds of $322,500
- Haywood Securities Inc. acted as the agent and received warrants and a cash commission
- Directors and officers were granted stock options to acquire an aggregate of 300,000 common shares
- The corporation is a capital pool company and will use the proceeds of the offering to identify assets or businesses for acquisition
- On July 13, 2021, the Exchange issued a bulletin approving the listing of the common shares
- The common shares will resume trading under the trading symbol FFC.P on July 19
Fife Capital (FFC.P) has successfully completed its initial public offering of 2,150,000 common shares for gross proceeds of $322,500.
The corporation now has 3,530,000 common shares issued and outstanding.
Haywood Securities Inc. acted as the agent and Fife Capital granted non-transferable warrants allowing Haywood to purchase up to 100,000 common shares at $0.15 per share. The agent’s warrants will expire 24 months from the date the common shares are listed on the TSX Venture Exchange, being July 15, 2021.
In connection with the offering, Haywood Securities also received a cash commission equal to 7.5 per cent of the gross proceeds of the offering, a corporate finance fee, and was reimbursed for its legal fees and reasonable expenses.
Fife Capital also granted stock options to directors and officers. The stock options allow the holders to acquire an aggregate of 300,000 common shares at an exercise price of $0.15 per share. The options expire five years from the date of grant.
The corporation is a “capital pool company” and intends to use the net proceeds of the offering to identify and evaluate assets or businesses for acquisition with a view to completing a “Qualifying Transaction” under the policies of the Exchange.
On July 13, 2021, the Exchange issued a bulletin approving the listing of the common shares as of market open on July 15, 2021.
The common shares will resume trading under the trading symbol FFC.P on July 19, 2021.