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Castlecap Capital files for IPO

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Castlecap Capital files for IPO

Castlecap Capital Inc. filed a preliminary prospectus for an IPO of 2,000,000 class A common shares at 10 Canadian cents apiece for gross proceeds of C$200,000.

At closing, Castlecap will grant its agent and any sub-agents options to purchase 200,000 common shares at 10 cents apiece. The options may be exercised during a period of 24 months from the date of the listing of the common shares on the TSX Venture Exchange Inc.

The company has also reserved a maximum of 400,000 common shares at 10 cents apiece for issuance upon exercise of the directors' and officers' options to be granted at the IPO's closing. These options may be exercised during a period of 10 years from the date of grant.

Castlecap projects total net proceeds of about C$210,000 to be directed toward the acquisition of assets or businesses, among other purposes.

Chippingham Financial Group Ltd. is the agent of the offering.