JAVA CAPITAL INC. FILES ITS FILING STATEMENT
07 Januar 2011 - 10:45PM
PR Newswire (Canada)
CALGARY, Jan. 7 /CNW/ -- /NOT FOR DISTRIBUTION TO UNITED STATES
NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
CALGARY, Jan. 7 /CNW Telbec/ - Java Capital Inc. (the "Company")
(TSX Venture: JCI.P) announces it has filed a filing statement
dated January 6, 2011 (the "Filing Statement") with the TSX Venture
Exchange (the "Exchange") with respect to its acquisition of all of
the issued and outstanding securities in the capital of Peak
Positioning Corp (the "Acquisition"). The Acquisition was
previously announced in a press release dated October 6, 2010.
Concurrently with the Acquisition, the Company will complete the
private placement (the "Private Placement") of a minimum of
11,750,000 units and a maximum of 16,750,000 units, at a price of
$0.12 per unit, for minimum gross proceeds of $1,410,000 and
maximum gross proceeds of $2,010,000. Each unit is comprised of one
common share of the Company (a "Company Share") and one half
warrant, each whole warrant entitling the holder to subscribe for
one Company Share at a price of $0.15 during the 12 months
following its issuance. In connection with the Private Placement,
the Company will pay a cash commission equal to 10% of the proceeds
of the Private Placement and issue a number of agent's warrants
equal to 10% of the number of units sold under the Private
Placement. Each agent's warrant entitles the holder to subscribe
for one Company Share at a price of $0.12 during the 24 months
following its issuance. Subject to the Exchange's approval, the
Acquisition and the Private Placement shall constitute the
Company's qualifying transaction. The Exchange has conditionally
approved the qualifying transaction and the listing of the
resulting issuer. Details of the Acquisition are contained in the
Filing Statement available on SEDAR at www.sedar.com. The
Acquisition is expected to close on or about January 18, 2011, and
is subject to the fulfillment of conditions required by the
Exchange. This news release contains discussion of items that may
constitute forward-looking statements within the meaning of
securities laws that involve risks and uncertainties. Such
statements include those with respect to the anticipating closing
date of the Acquisition. Although the Company believes the
expectations reflected in such forward-looking statements are based
on reasonable assumptions, it can give no assurances that its
expectations will be achieved. Such assumptions, which may prove
incorrect, include that no event will intervene that would cause
any party to the Acquisition or any subscriber under the Private
Placement to refuse to proceed with closing. Factors that could
cause actual results to differ materially from expectations include
a deterioration in capital market conditions that causes the
subscribers under the Private Placement to refuse to complete their
obligation to subscribe for Company Shares. These factors and
others are more fully discussed in the Company's filings with
Canadian securities regulatory authorities available at
www.sedar.com, including the Filing Statement. Actual results may
vary from the forward-looking information. Neither 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. To
view this news release in HTML formatting, please use the following
URL:
http://www.cnw.ca/en/releases/archive/January2011/07/c9246.html
pJava Capital Inc.br/ 780, 910 - 7 Avenue SWbr/ Calgary, Alberta
T2P 3N8br/ Tel: 403-617-3733br/ Fax: 403-770-8370/p pAttn: Mansoor
Anjum, President and Chief Executive Officer/p
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