/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES/
KELOWNA, BC,
Oct. 3, 2013 /CNW/ - TrinCan Capital
Corp. ("TrinCan" or the "Corporation")
(TRN:TSX-V) announces completion of closing of the final tranche of
its previously announced private placement (the "Private
Placement") of up to 8,500,000 units of the Corporation
("Units") at a price of $0.05
per Unit for aggregate gross proceeds of up to $425,000. In aggregate, TrinCan closed on
subscriptions for 8,500,000 Units for aggregate gross proceeds of
$425,000 (net proceeds of
$387,500 after payment of various
finder's fees of $37,500).
Each Unit consists of one common share of the
Corporation (a "Common Share") and one-half of one Common
Share purchase warrant (each whole such warrant, a
"Warrant"). The Warrant will not be listed. Each
whole Warrant shall be exercisable for one Common Share at a price
of $0.10 per Common Share for a
period to and including August 30,
2014. All securities in the Private Placement will be
subject to a four month hold period from the closing of the Private
Placement.
The proceeds of the Private Placement will be
used for general working capital purposes. The Units were issued to
purchasers pursuant to exemptions from the prospectus requirements
of applicable securities legislation and will be subject to resale
restrictions, as required under the applicable securities
legislation. 4,250,000 Common Shares are reserved for issuance on
exercise of the Warrants issued under the Private Placement. After
giving effect to the completed Private Placement, TrinCan has
17,469,000 Common Shares outstanding.
CAUTIONARY STATEMENT
Neither the TSX Venture Exchange nor its
Regulation Service Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
No stock exchange, securities commission or
other regulatory authority has approved nor disapproved the
information contained herein.
FORWARD-LOOKING STATEMENTS
This news release contains forward-looking
statements relating to the issuance of securities and the use of
proceeds from the Private Placement and other statements that are
not historical facts. Forward-looking statements are often
identified by terms such as "will", "should", "anticipate",
"expects" and similar expressions. All statements other than
statements of historical fact, included in this release, including,
without limitation, statements regarding the issuance of
securities, the use of proceeds from the Private Placement, and
future plans and objectives of the Company, are forward looking
statements that involve risks and uncertainties. There can be
no assurance that such statements will prove to be accurate and
actual results and future events could differ materially from those
anticipated in such statements. Important factors could cause
actual results to differ materially from the Company's expectations
and are detailed from time to time in the filings made by the
Company with securities regulations.
The reader is cautioned that assumptions used
in the preparation of any forward-looking information may prove to
be incorrect. Events or circumstances may cause actual
results to differ materially from those predicted, as a result of
numerous known and unknown risks, uncertainties, and other factors,
many of which are beyond the control of TrinCan. As a result,
TrinCan cannot guarantee that any forward-looking statement will
materialize and the reader is cautioned not to place undue reliance
on any forward-looking information. Such information,
although considered reasonable by management at the time of
preparation, may prove to be incorrect and actual results may
differ materially from those anticipated. Forward-looking
statements contained in this news release are expressly qualified
by this cautionary statement. The forward-looking statements
contained in this news release are made as of the date of this news
release, and TrinCan does not undertake any obligation to update
publicly or to revise any of the included forward-looking
statements, whether as a result of new information, future events
or otherwise, except as expressly required by Canadian securities
law.
SOURCE TrinCan Capital Corp.