• Veteran Capital (VCC.P) has completed its initial public offering
  • The offering consisted of 2,250,000 common shares at a purchase price of $0.10 per share for gross proceeds of $225,000
  • Veteran has raised total gross proceeds of $335,000 and has a total of 4,450,000 common shares issued and outstanding
  • Net proceeds from the offering will be used to identify and evaluate assets or businesses for acquisition with a view to completing a “Qualifying Transaction”
  • The common shares were admitted for trading on the TSX under the symbol VCC.P on or about Monday May 31, 2021

Veteran Capital (VCC.P) has completed its initial public offering.

The offering consisted of 2,250,000 common shares at a purchase price of $0.10 per share for gross proceeds of $225,000.

“The successful completion of our IPO represents an important step for Veteran” commented Tyler Rice, CEO of Veteran.

“With a team of dedicated and disciplined industry professionals, Veteran looks forward to identifying quality targets in high growth industries seeking access to the public capital markets,” Rice further stated.

When combined with the corporation’s cash proceeds raised prior to the offering Veteran has raised total gross proceeds of $335,000 and has a total of 4,450,000 common shares issued and outstanding.

Net proceeds from the offering will be used to identify and evaluate assets or businesses for acquisition with a view to completing a “Qualifying Transaction” under the Capital Pool Company program of the Exchange.

Haywood Securities Inc. acted as agent in connection with the offering. Haywood Securities received an administrative fee, a cash commission equal to 10% of the gross proceeds as well as options to purchase up to 225,000 shares for $0.10 per share. This option is exercisable until either 5 years from the date of the listing of the shares on the TSX or one year from the completion of the corporation’s Qualifying Transaction.

The corporation granted an aggregate of 225,000 stock options to its directors and officers at an exercise price of $0.10 per share for a period of five years from the date of grant.

The common shares were admitted for trading on the TSX under the symbol VCC.P on or about Monday May 31, 2021.

Dentons Canada LLP acted as legal counsel and Burstall LLP acted as counsel to the agent.

Veteran Capital (VCC.P) is a Capital Pool Company. To date, the corporation has not conducted operations of any kind.

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