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Rise Capital Corp. Completes Initial Public Offering; Common Shares Will Commence Trading on the TSX Venture Exchange

Written by Customer Service on . Posted in Public Companies.

TORONTO, May 26, 2021 (GLOBE NEWSWIRE) — Rise Capital Corp. (TSXV: RSE) (the “Corporation“) is pleased to announce that it has successfully completed its initial public offering of 45,000,000 common shares (the “Common Shares“) at $0.20 per share for gross proceeds of $9,000,000 (the “Offering“). As a result of this issuance, the Corporation has 55,000,000 Common Shares issued and outstanding of which 10,000,000 Common Shares are subject to escrow restrictions as disclosed in the Corporation’s final prospectus dated May 6, 2021, a copy of which may be obtained at www.sedar.com. Hampton Securities Limited (the “Agent“) acted as agent for the Offering. In connection with the Offering, the Agent received a cash commission of $419,328.00, representing 6% of the gross proceeds of the Offering, excluding proceeds from the sale of Common Shares to persons included on the Corporation’s president’s list for which no commission was payable to the Agent.

The Corporation is a capital pool company pursuant to Policy 2.4 (the “CPC Policy“) of the TSX Venture Exchange (the “Exchange“). Except as specifically contemplated in the CPC Policy, until the completion of its “Qualifying Transaction” (as defined in the CPC Policy), the Corporation will not carry on business, other than the identification and evaluation of companies, business or assets with a view to completing a proposed Qualifying Transaction.

The Common Shares are expected to commence trading on the Exchange under the symbol “RSE” within two days following the date on which the Exchange issues its bulletin evidencing its final acceptance of the Offering.

Investors are cautioned that trading in the securities of a capital pool company is considered highly speculative.

For further information, please contact:

Michael Zych, Chief Financial Officer, Corporate Secretary and Director at (905) 825-4011.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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