Vancouver, British Columbia–(Newsfile Corp. – November 12, 2021) – Trail Blazer Capital Corp. (the “Company“), a capital pool company, is pleased to announce the completion of its initial public offering (the “Offering“). The Company issued 5,000,000 common shares in the capital of the Company (the “Common Shares“) at a price of $0.10 per share, for gross proceeds to the Company of $500,000. As a result of this issuance, the Company has 15,000,000 Common Shares issued and outstanding. 3,400,000 Common Shares issued prior to the Offering and 220,000 Common Shares issued as part of the Offering are deposited in escrow with the Company’s escrow agent.
The Common Shares will commence trading on the TSX Venture Exchange (the “Exchange“) at the opening of markets on November 16, 2021 under the trading symbol of “TBLZ.P.”
In connection with the Offering, the Company granted non-transferrable warrants to the Offering agent, PI Financial Corp., to acquire an aggregate of 500,000 Common Shares (the “Agent’s Warrants“) at an exercise price of $0.10 per Common Share. The Agent’s Warrants will expire 36 months from the date the Common Shares are listed on the Exchange. PI Financial Corp. also received a cash commission equal to 10% of the gross proceeds of the Offering and an administration fee for its services.
The Company has also granted options to acquire an aggregate of 1,000,000 Common Shares at an exercise price of $0.10 per option to the directors and officers of the Company. Such options expire five years from the date of grant.
The net proceeds of the Offering will be used by the Company to identify and evaluate assets or businesses for acquisition with a view to completing a “Qualifying Transaction” under the Capital Pool Company program of the Exchange.
The current directors and officers of the Company are: Thomas O’Neill: President, Chief Executive Officer, Corporate Secretary and Director; Grace Marosits: Chief Financial Officer and Director; Marlis Yassin: Director; David Stier: Director; and Warwick Smith: Director.
About the Company
The Company has not commenced commercial operations and has no assets other than cash. The only business of the Company is the identification and evaluation of assets or businesses with a view to completing a “Qualifying Transaction” in accordance with Exchange Policy 2.4 – Capital Pool Companies. The funds raised under the Offering will be used to pursue such Qualifying Transaction. For further information please see the Company’s prospectus dated October 12, 2021, available on the Company’s SEDAR profile at www.sedar.com or contact:
Trail Blazer Capital Corp.
Telephone: (604) 628-2669
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.
This news release contains forward-looking statements or information (collectively referred to herein as “forward-looking statements”). Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements and are not guarantees of future performance of the Company. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including risks and uncertainties relating to the Company’s ability to identify, evaluate and complete a Qualifying Transaction and other risks and uncertainties, including those described in the Company’s Prospectus dated October 12, 2021 available on www.sedar.com. Should one or more of these risks or uncertainties materialize, or should any of the Company’s assumptions prove incorrect, actual results may vary in material respects from those projected in the forward-looking statements. Readers are cautioned that the foregoing list of risks, uncertainties and other factors is not exhaustive. Unpredictable or unknown factors not discussed could also have material adverse effects on forward-looking statements. The impact of any one factor on a particular forward-looking statement is not determinable with certainty as such factors are dependent on other factors, and the Company’s course of action would depend on its assessment of the future considering all information then available. All forward-looking statements in this news release are expressly qualified in their entirety by these cautionary statements. Except as required by law, the Company assumes no obligation to update forward-looking statements should circumstances or management’s estimates or opinions change.
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