RIV.P IPORivera Capital closes $349,550 IPO, lists on TSX-V
2008-05-02 17:35 ET - News Release
Mr. Lindsay Gorrill reports
RIVERA CAPITAL CORP. ANNOUNCES CLOSING OF INITIAL PUBLIC OFFERING
Rivera Capital Corp. has successfully completed its initial public offering of 3,495,500 common shares at a price of 10 cents per share for total gross proceeds of $349,550, pursuant to a prospectus dated March 31, 2008. Northern Securities Inc. acted as the agent for the offering. Northern received a cash commission of 10 per cent of the gross proceeds of the offering and the company also granted agent's options to Northern to purchase up to a total of 749,550 common shares at a price of 10 cents per share. Of the agent's options, 400,000 are exercisable for a period of 24 months from the date of grant, which relates to a four-million-common-share issuance pursuant to a private placement completed by the company earlier this year. The remaining 349,500 agent's options are exercisable for a period of 24 months from the date the company's common shares are listed on the TSX Venture Exchange, being May 2, 2010.
The company's common shares have been approved for listing on the exchange and the common shares of the company have commenced trading under the symbol RIV.P as of May 2, 2008.