Technical Ventures RX Corp.: Press Release
SURREY, BRITISH COLUMBIA, Dec 20, 2012 (Menafn - MARKETWIRE via COMTEX) --Mr. David Wood, President of Technical Ventures RX Corp. (tsxventure:TIK.P) (the "Corporation" or "Technical") announces theCorporation, a Capital Pool Company, has raised 300,000 by aninitial public offering of 3,000,000 common shares, at a price of0.10 per common share, which closed on December 20, 2012. TheCorporation's common shares will be listed and posted for trading onthe TSX Venture Exchange on or about December 20, 2012 under thesymbol "TIK.P". The common shares will be immediately halted pendingreceipt by the TSX Venture Exchange of satisfactory documentation.The Corporation has granted an aggregate of 500,000 stock options todirectors and officers of the Corporation and which are exercisableon or before December 20, 2017 at an exercise price of 0.10 percommon share. As a result of the closing of the initial publicoffering, Technical now has 5,000,000 common shares issued andoutstanding (2,030,000 of which are subject to escrow restrictions).
Wolverton Securities Ltd. (the "Agent") acted as agent for theCorporation's offering. As compensation to the Agent for its servicesin connection with the initial public offering, the Corporation haspaid a cash fee of 30,000 which represents the Agent's commission.The Agent and its sub-agent also received 300,000 Agent's optionsentitling the Agent to acquire an aggregate of 300,000 common sharesat an exercise price of 0.10 per common share which expire 24 monthsfrom the closing date.
The Corporation is a capital pool company pursuant to Policy 2.4 ofthe TSX Venture Exchange (the "Exchange"). Investors are cautionedthat trading in the securities of a capital pool company should beconsidered highly speculative. Pursuant to Exchange policies, theCorporation has 24 months to identify and close a qualifyingtransaction.
Forward-Looking Statements
Certain information included herein is forward-looking.Forward-looking statements include, without limitation, statementsregarding the future financial position, business strategy, budgets,projected costs, capital expenditures, financial results, taxes andplans and objectives of or involving Technical. Many of thesestatements can be identified by looking for words such as "believe","expects", "expected", "will", "intends", "projects", "anticipates","estimates", "continues", or similar words and include but are notlimited to, statements regarding the accretive effects of theacquisition and the anticipated results and expected benefits of theacquisition upon closing thereof. Technical believes the expectationsreflected in such forward-looking statements are reasonable but noassurance can be given that these expectations will prove to becorrect and such forward-looking statements should not be undulyrelied upon. Forward-looking statements are not guarantees of futureperformance and involve a number of risks and uncertainties some ofwhich are described in Technical's continuous disclosure documents.Such forward-looking statements necessarily involve known and unknownrisks and uncertainties and other factors, which may causeTechnical's actual performance and financial results in futureperiods to differ materially from any projections of futureperformance or results expressed or implied by such forward-lookingstatements. Such factors include, but are not limited to: generaleconomic, market and business conditions; industry capacity;competitive action by other companies; refining and marketingmargins; the ability of suppliers to meet commitments; actions bygovernmental authorities including increases in taxes; changes inenvironmental and other regulations; and other factors, many of whichare beyond the control of Technical. Any forward-looking statementsare made as of the date hereof and Technical does not undertake anyobligation, except as required under applicable law, to publiclyupdate or revise such statements to reflect new information,subsequent or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider(as that term is defined in the policies of the TSX Venture Exchange)accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Technical Ventures RX Corp.
Mr. David Wood
President, CEO, CFO & Director
(604) 720-7307
Technical Ventures RX Corp.
#310, 16477 - 64 Avenue
Surrey, British Columbia V3S 6V7
SOURCE: Technical Ventures RX Corp.
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