- St Charles Resources (SCRS.P) has completed its initial public offering of 20,000,000 common shares
- Each common share of the company was offered at $0.10 per share for gross proceeds of $2,000,000
- The company’s shares are expected to be listed on Tier 2 of the TSX Venture Exchange as a capital pool company on April 26, 2022 under the symbol SCRS.P
- The company has not commenced commercial operations and has no assets other than cash
- The purpose of the offering is to provide the company with funds to identify and evaluate businesses or assets with a view to completing a qualifying transaction
- St Charles Resources (SCRS.P) has completed its initial public offering for gross proceeds of $2,000,000
The company issued 20,000,000 common shares at $0.10 per share.
The company’s shares are expected to be listed on Tier 2 of the TSX Venture Exchange as a capital pool company on April 26, 2022, under the symbol SCRS.P.
iA Private Wealth Inc. acted as agent for the offering.
Following the completion of the offering, the company has 27,360,000 shares issued and outstanding, 2,000,000 shares reserved for issuance upon exercise of the agent’s options and 2,736,000 shares reserved for issuance upon exercise of the CPC Options.
The board of directors of the company consists of James A. Crombie, Alain Krushnisky, Carole Plante, Mark Eaton and David A. Fennell.
St Charles Resources Inc. is designated as a capital pool company under TSXV Policy 2.4. The company has not commenced commercial operations and has no assets other than cash.
The purpose of the offering is to provide the company with funds to identify and evaluate businesses or assets with a view to completing a qualifying transaction (as defined in the prospectus).
Any proposed qualifying transaction must be approved by the TSXV and receive majority approval from the minority shareholders.
Until the completion of a qualifying transaction, the company will not carry on any business other than the identification and evaluation of businesses or assets with a view to completing a proposed qualifying transaction.
As of 11:23 AM ET, shares of St Charles Resources Inc. (SCRS.P) are unchanged, trading at $0.10.