ORCUS RESOURCES : COMPLETES INITIAL PUBLIC OFFERING AND LISTS ON THE TSX VENTURE EXCHANGE AS A CAPITAL POOL COMPANY
British Columbia – Orcus Resources Ltd. (the ‘Company’) (TSX-V: ORCS.P), a capital pool company, is pleased to announce that it has successfully completed its initial public offering.
The Company has issued 4,000,000 common shares (the “Shares”) representing the maximum number of shares that may be issued under the Offering for gross proceeds of $ 400,000.
PI Financial Corp. acted as an intermediary for the offer. In connection with the offer, PI
Financial Corp. received: a cash commission equal to 10% of the gross proceeds of the offering; a corporate finance fee and non-transferable options to purchase up to 400,000 shares at a price of $ 0.10 per share that can be exercised through October 5, 2026.
The company’s directors and officers are: Deepak Varshney (Chief Executive Officer, Corporate Secretary and Director); Tim Peters (Chief Financial Officer); Navin Varshney (director); James Walker (Director) and Brian Moore (Director).
In addition, the Company’s directors and officers have been granted a total of 475,000 stock options to purchase shares in the Company at an exercise price of $ 0.10 per share, which are exercisable for a period of 10 years from the date of grant. The company is also pleased to announce that it has received approval for its application to list its common shares on the TSX Venture Exchange (“TSX-V”). The company’s common stock was listed on the TSX-V on Tuesday, October 5, 2021 and was immediately suspended pending the completion of the offering.
The company’s common stock is expected to trade on Thursday, October 7, 2021 under the symbol “ORCS.P” on the TSX-V
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