Birchpoint Announces Conditional Listing Approval For Common Shares
Birchpoint Capital Inc. (“Birchpoint”), a capital pool company, is pleased to announce that it has received conditional listing approval for its common shares from the TSX Venture Exchange and on February 21, 2006 closed its initial public offering of 1,250,000 common shares at $0.20 per share for aggregate gross proceeds of $250,000 through Blackmont Capital Inc., who acted as agent for Birchpoint. Birchpoint expects that trading will commence shortly under the symbol “BPC.P”.
Upon closing of the offering, Birchpoint granted 500,000 incentive stock options to its directors and officers which are exercisable within five years from the date of grant at an exercise price of $0.20 per share. In addition, Birchpoint granted 125,000 options to Blackmont Capital Inc., which are exercisable 24 months from the date of listing of the common shares of Birchpoint on the TSX Venture Exchange at an exercise price of $0.20 per share.
The principal business of Birchpoint is the identification and evaluation of assets or businesses with a view to completing a “Qualifying Transaction.” The funds raised under the offering are to be used to pursue its Qualifying Transaction.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
For further information, contact Daniel Whittaker, President, Chief Executive Officer and Chief Financial Officer of Birchpoint at:
Telephone: (902) 482-5214
Fax: (902) 492-0197