|By Marketwired .||
|June 27, 2014 10:34 AM EDT||
MONTREAL, QUEBEC -- (Marketwired) -- 06/27/14 -- Rodocanachi Capital Inc. (TSX VENTURE: ROD.H) is pleased to announces today that it has received approval from each of the Alberta Securities Commission, British Columbia Securities Commission, Ontario Securities Commission and L'Autorite des Marches Financiers in Quebec for respective partial revocation of cease trade orders which will permit the Company to proceed with a financing. The Corporation has been subject to the cease trade orders from the respective commissions as a result of a delay in filing the Corporation's interim financial statements and the related management's discussion and analysis for the three-month period ended August 31, 2011. The late filing of the required financial disclosure documents was a consequence of financial distress resulting in the inability of the Corporation to pay its services providers.
The funds to be raised will be used to finalize the audit work and bring its continuous disclosure obligations up to date so that applications for full revocation of the cease trade orders can be made in due course. The Issuer intends to issue, subject to NEX approval, an aggregate 2,864,000 common shares at a price of $0.0375 per share pursuant to the proposed private placement. Until such time as the full revocation orders are received, all securities of Rodocanachi will remain subject to all existing cease trade orders.
The granting of any and all partial revocation orders does not guarantee full revocation of existing cease trade orders in the future that would permit trading in the Corporation' securities on the NEX. There is no guarantee that full revocation orders will be received that would permit the common shares to be issued and listed for trading on a recognized exchange.
About Rodoanachi Capital Inc.
Rodocanachi is a Capital Pool Company as defined in Policy 2.4 ("Policy 2.4") of the TSX Venture Exchange.
Rodocanachi has 6,400,000 common shares outstanding and is listed on the NEX under the symbol ROD.H.
Rodocanachi Capital Inc.
President, CEO, CFO and director