Toronto, Ontario--(Newsfile Corp. - April 8, 2022) - Evocati Capital Resources Inc. (TSXV: EVOC.P) (the "Company" or "Evocati") is pleased to announce that it has completed its initial public offering (the "Offering").
James Lill, Chief Executive Officer of Evocati, commented, "Evocati Capital Resources is excited and proud to join the TSXV and would like to thank our investors who participated in the Offering. We appreciate all the support from the TSXV, Borden Ladner Gervais LLP, and the Agent during the listing process. With an excellent team of experienced mining professionals, Evocati is now positioned to strategically acquire, build and operate a high-quality project pipeline in the Americas following the completion of the qualifying transaction."
Pursuant to the Offering, the Company has issued an aggregate of 5,000,000 common shares ("Common Shares") at a price of $0.10 per Common Share to raise aggregate gross proceeds of $500,000 pursuant to a final prospectus dated January 31, 2022.(the "Prospectus").
iA Private Wealth Inc. (the "Agent") acted as agent in the Offering, in connection with which it received a cash commission of $50,000, a corporate finance fee of $10,000 and an aggregate of 500,000 compensation options, each such compensation option entitling the holder to acquire one Common Share at an exercise price of $0.10 expiring 24 months from the date that the Common Shares are listed on the TSX Venture Exchange (the "TSXV").
At the closing of the Offering, the Company granted stock options (the "Options") to directors of the Company to acquire up to an aggregate of 1,120,000 Common Shares. Each Option is exercisable to acquire one Common Share at a price of $0.10 any time prior to April 8, 2032.
Following completion of the Offering, the Company has 11,200,000 Common Shares issued and outstanding, 6,200,000 of which are subject to escrow restrictions as disclosed in the Prospectus. The TSXV has accepted the Company's listing application and the Common Shares are anticipated to assume trading on the TSXV at the opening of business on Tuesday, April 12, 2022, under the symbol "EVOC.P".
About the Company
Evocati is a capital pool company ("CPC") within the meaning of the policies of the TSXV that has not commenced commercial operations and has no assets other than cash. The board of directors of the Company consists of James Lill, Andrew Gottwald, Dawson Proudfoot, Denis Flood and Nelson Bodnarchuk. The officers of the Company are James Lill and Andrew Gottwald. Except as specifically contemplated in the CPC policies of the TSXV, until the completion of its "Qualifying Transaction" (as defined therein), the Company 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".
Investors are cautioned that trading in the securities of a capital pool company should be considered highly speculative.
For further information, please contact:
EVOCATI CAPITAL RESOURCES INC.
Andrew Gottwald
Chief Financial Officer
Email: info@evoc.rocks
Visit our website at evoc.rocks
On Behalf of the Board of Directors
Forward-Looking Information Cautionary Statement
This news release contains statements about the Company's expectations regarding the completion of the application for listing and the commencement of trading on the TSXV that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties, such as final listing approval from the TSXV. The use of any of the words "could", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, the Company's stated use of proceeds and its expectation as to the trading of the Common Shares on the TSXV constitute forward-looking information. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them as actual results may differ materially from the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include failure to fulfil conditions of listing on the TSXV and inability to obtain required regulatory approvals. The forward-looking statements contained in this press release are made as of the date hereof, and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, except as required by law
Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this news release.
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