• Smithe Resources (SMTH.P) has successfully completed its Initial Public Offering on the TSX Venture Exchange
  • Smithe expects to commence trading as a capital pool company on October 25, 2021, under the symbol SMTH.P
  • The company issued a total of 5,000,000 common shares at a price of $0.10 per share raising gross proceeds of $500,000
  • Smithe Resources is a capital pool company and intends to use the net proceeds of the offering to complete a qualifying transaction

Smithe Resources (SMTH.P) has successfully completed its Initial Public Offering on the TSX Venture Exchange.

Smithe expects to commence trading as a capital pool company on October 25, 2021, under the symbol SMTH.P. The company issued a total of 5,000,000 common shares at a price of $0.10 per share raising gross proceeds of $500,000.

Canaccord Genuity Corp. acted as the agent for the IPO. Canaccord received a cash commission equal to 10 per cent of the gross proceeds of the offering and an option to purchase 500,000 common shares at a price of $0.10 per share for a period of 24 months.

Smithe granted 740,000 stock options to its directors and officers which are exercisable within five years from the date of grant at an exercise price of $0.10 per share.

Smithe now has 7,400,000 common shares issued and outstanding.

Smithe Resources is a capital pool company and intends to use the net proceeds of the offering to identify and evaluate assets or businesses for acquisition with a view to completing a qualifying transaction.

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