Calgary, Alberta--(Newsfile Corp. - December 8, 2021) - Trail Blazing Ventures Ltd. (TSXV: BLAZ.P) (the "Corporation") a capital pool company as defined under Policy 2.4 - Capital Pool Companies (the "CPC Policy") of the TSX Venture Exchange (the "Exchange"), is pleased to announce that it has obtained a receipt for a final prospectus dated December 6, 2021 (the "Prospectus") from the securities regulatory authorities in British Columbia, Alberta, Saskatchewan, Manitoba and Ontario in connection with its initial public offering (the "IPO").
Under the IPO, the Corporation intends to raise a minimum of $1,000,000 (10,000,000 common shares (each a "Common Share") (the "Minimum Offering") and up to a maximum of $2,000,000 (20,000,000 Common Shares), at a price of $0.10 per Common Share (the "Offering Price").
The IPO is being led by Research Capital Corporation ("Research Capital") on a "best-efforts" basis pursuant to an agency agreement dated December 6, 2021 (the "Agency Agreement"). In accordance with the terms of the Agency Agreement, Research Capital will be paid a cash commission equal to 8.0% of the gross proceeds raised in the IPO and be issued that number of broker warrants (the "Broker Warrants") as is equal to 8.0% of the Common Shares issued pursuant to the IPO. Each Broker Warrant entitles the holder to acquire an additional Common Share at the Offering Price for a period of 24 months following the date the Common Shares are listed on the Exchange.
The IPO is subject to customary closing conditions and the receipt of gross proceeds to satisfy the Minimum Offering. The Exchange has conditionally approved the listing of the Common Shares under the symbol "BLAZ.P". Listing is subject to the Corporation fulfilling all of the listing requirements of the Exchange.
The Prospectus contains important information about the IPO, the Corporation and the securities being offered. Potential investors should read the Prospectus prior to making an investment decision. A copy of the Prospectus is available on the SEDAR website at www.sedar.com.
ABOUT THE CORPORATION
The Corporation is a capital pool company (a "CPC") that has not commenced commercial operations and has no assets other than cash. Except as specifically contemplated in the Exchange's CPC Policy, until the completion of its qualifying transaction, the Corporation will not carry on business, other than the identification and evaluation of businesses or assets with a view to completing a Qualifying Transaction (as defined in the CPC Policy).
For further information, please contact:
Chief Executive Officer, Chief Financial Officer and Director
Trail Blazing Ventures Ltd.
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW.ANY SECURITIES REFERRED TO HEREIN WILL NOT BE REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933 (THE "1933 ACT") AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO A U.S. PERSON IN THE ABSENCE OF SUCH REGISTRATION OR AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE 1933 ACT.
Completion of the IPO is subject to a number of conditions, including but not limited to the receipt of requisite regulatory approvals, including the final approval of the Exchange. There can be no assurance that the IPO will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the Prospectus, any information released or received with respect to the IPO may not be accurate or complete and should not be relied upon. Investment in the securities of a CPC should be considered highly speculative.
Forward-Looking Information Cautionary Statement
This release includes forward-looking statements regarding the Corporation, which may include, but is not limited to, statements with respect to the completion of the IPO, the terms and timing on which the IPO is intended to be completed, the ability to obtain regulatory approvals and other factors. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "is expected", "expects", "scheduled", "intends", "contemplates", "anticipates", "believes", "proposes", "estimates" or variations of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Such statements are based on the current expectations of the Corporation's management. The forward-looking events and circumstances discussed in this release, including completion of the IPO, may not occur by certain specified dates or at all and could differ materially as a result of known and unknown risk factors and uncertainties affecting the Corporation, including the risk that the Corporation may not obtain all requisite approvals for the IPO, including the approval of the Exchange, failure to obtain regulatory approvals, economic factors, timing of the IPO, the equity markets generally and risks associated with CPCs. Although the Corporation has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and the Corporation undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
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 news release.
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IN THE UNITED STATES
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