/NOT FOR DISSEMINATION IN THE
UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE
SERVICES/
Trading Symbol: TSX-V: NLII
HALIFAX,
NS, March 28, 2023 /CNW/ - NL2 Capital Inc.
(TSXV: NLII) ("NL2" or "the Company"), a capital pool company, is
pleased to announce that it has completed its initial public
offering (the "Offering") of 5,274,500 common shares at a price of
$0.10 per common share for gross
proceeds to the Company of $527,450.
Gravitas Securities Inc. (the "Agent") acted as agent for the
Offering and was paid a cash commission equal to 10% of the gross
proceeds of the Offering and non-transferrable options (the
"Agent's Options") to purchase up to 527,450 common shares of the
Company. The Agent's Options are exercisable until
March 28, 2028, at a price of
$0.10 per common share.
NL2's common shares have been conditionally approved for listing
on the TSX Venture Exchange (the "Exchange"). The Company
expects its common shares will commence trading on the Exchange as
soon as practicable under the symbol "NLII.P".
The net proceeds of the Offering will be used to identify and
evaluate assets or businesses for acquisition with a view to
completing a Qualifying Transaction pursuant to Exchange Policy 2.4
– Capital Pool Companies, as disclosed in the Company's prospectus
dated December 22, 2022 and filed on
SEDAR at www.sedar.com.
The current directors of the Company are Chris Dobbin, Dana
Hatfield, Michael O'Keefe,
and Wayne Myles.
Prior to the closing of the Offering, the Company granted stock
options to its directors and officers to acquire an aggregate of
1,370,000 common shares at a price of $0.05 per share, exercisable until March 27, 2033. Such stock options are subject to
escrow pursuant to the terms of an escrow agreement dated
December 22, 2022.
CAUTIONARY STATEMENT:
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Certain information in this press release may contain
forward-looking statements. This information is based on current
expectations that are subject to significant risks and
uncertainties that are difficult to predict. Actual results might
differ materially from results suggested in any forward-looking
statements. The Company assumes no obligation to update the
forward-looking statements, or to update the reasons why actual
results could differ from those reflected in the forward looking
statements unless and until required by securities laws applicable
to the Company. Additional information identifying risks and
uncertainties is contained in the Company's filings with the
Canadian securities regulators, which filings are available
at www.sedar.com.
SOURCE NL2 Capital Inc.
