Owl Capital Corp., a capital pool company, intends to close a nonbrokered private placement of up to 15 million common shares at 10 Canadian cents per share for up to C$1.5 million in gross proceeds.
The company has not commenced operations and has no assets other than cash. It intends to use the net proceeds to find and assess potential qualifying transactions.
Its shares were set to resume trading on the TSX Venture Exchange under the symbol OCC.P on June 15.
The offering is subject to the TSX Venture Exchange's approval.