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TORONTO, June 30, 2023 /CNW/ - Seven Oaks Capital Corp. (the "Corporation") (TSXV: SEVN.P) announces that it has closed the previously announced non-brokered private placement of 1,576,560 common shares of the corporation at a price of $0.10 per share for gross proceeds of $157,656. All shares issued are subject to a 4 month hold from the date of their issuance. The private placement was previously announced by the Corporation on June 20, 2023.
In connection with the private placement, the Corporation paid aggregate finder's fees of approximately $1,253. The Corporation intends to use the net proceeds to cover the costs associated with locating a target for a qualifying transaction and for working capital purposes.
About Seven Oaks Capital Corp.
Seven Oaks is a capital pool company created pursuant to the policies of the Exchange. It does not own any assets, other than cash or cash equivalents. The principal business of Seven Oaks is to identify and evaluate opportunities for the acquisition of an interest in assets or businesses and, once identified and evaluated, to negotiate an acquisition or participation subject to acceptance by the Exchange so as to complete a Qualifying Transaction in accordance with the policies of the Exchange.
Forward-Looking Statements
Investors are cautioned that trading in the securities of a capital pool company should be considered highly speculative. Certain statements in this news release constitute "forward-looking information" and "forward-looking statements" under applicable securities legislation, including with respect to the use of proceeds of the private placement and the ability to locate a qualifying transaction. All information contained herein that is not historical in nature may constitute forward-looking information. Forward-looking information is based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied herein. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers of this news release should not place undue reliance on forward-looking information. The Corporation disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Seven Oaks Capital Corp
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