Tucson Acquisition Corporation Announces Closing of Initial Public Offering
May 16 2012 - 11:54AM
Marketwired Canada
NOT FOR DISSEMINATION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES
Tucson Acquisition Corporation ("Tucson" or the "Corporation") (TSX
VENTURE:TSS.P) announces it has completed its initial public offering (the
"Offering") raising gross proceeds of $300,000, pursuant to a prospectus dated
March 14, 2012. A total of 1,500,000 common shares in the capital of the
Corporation (the "Shares") were subscribed for at a price of $0.20 per Share.
Macquarie Private Wealth Inc. ("Macquarie") acted as the agent for the Offering.
Macquarie received a corporate finance fee and a cash commission equal to 10% of
the gross proceeds of the Offering, as well as an option to purchase 150,000
Shares at a price of $0.20 for a period of two years.
The Corporation now has 2,500,000 Shares outstanding, with the directors and
officers of Tucson in aggregate holding 1,000,000 Shares.
The Shares have been listed on the TSX Venture Exchange and subsequently halted
pending delivery of certain documents in connection with the closing of the
Offering and are expected to begin trading under the stock symbol TSS.P.
This news release shall not constitute an offer to sell or the solicitation of
an offer to buy any securities, nor shall there be any sale of securities in any
state in the United States in which such offer, solicitation or sale would be
unlawful. The securities referred to herein have not been and will not be
registered under the United States Securities Act of 1933, as amended, and may
not be offered or sold in the United States absent registration or an applicable
exemption from registration requirements.
ABOUT TUCSON
The Corporation is a capital pool company ("CPC") that has not commenced
commercial operations and has no assets other than cash. Except as specifically
contemplated in the CPC policy, until the completion of the qualifying
transaction, the Corporation will not carry on business, other than the
identification and evaluation of companies, business or assets with a view to
completing a proposed qualifying transaction.
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