Blue Bay Capital Inc. generated C$500,000 in gross proceeds after selling 5 million common shares at a price of 10 Canadian cents per share in its recently completed IPO.
Haywood Securities Inc. acted as agent on a best efforts basis. It was given an option to purchase up to 500,000 common shares at 10 Canadian cents per share for a period of 24 months after the date of listing of Blue Bay Capital's common shares on the TSX Venture Exchange. The shares were listed under the trading symbol BLUE.P.
Blue Bay Capital is a capital pool company that has not commenced operations and has no assets other than cash.
