Veteran Capital Corp. Announces Closing of Initial Public Offering

Calgary, Alberta–(Newsfile Corp. – May 27, 2021) – Veteran Capital Corp. (TSXV: VCC.P) (the “Corporation” or “Veteran”), is pleased to announce that it has completed its initial public offering (the “Offering”) today of 2,250,000 common shares in the capital of the Corporation (“Common Shares”) at a purchase price of $0.10 per Common Share by way of a prospectus for gross proceeds of $225,000.

“The successful completion of our IPO represents an important step for Veteran” commented Tyler Rice, CEO of Veteran. “With a team of dedicated and disciplined industry professionals, Veteran looks forward to identifying quality targets in high growth industries seeking access to the public capital markets,” Rice further stated.

The Corporation is a Capital Pool Company (as defined in the policies of the TSX Venture Exchange (the “Exchange”)). To date, the Corporation has not conducted operations of any kind and has not entered into an “Agreement in Principle”, as such term is defined in Exchange Policy 2.4 – Capital Pool Companies (the “Policy“).

When combined with the Corporation’s cash proceeds raised prior to the Offering ($110,000 in seed financing as more fully described in the Corporation’s prospectus dated April 21, 2021), the Corporation has raised total gross proceeds of $335,000 and has a total of 4,450,000 Common Shares issued and outstanding, of which 2,200,000 Common Shares are being held in escrow (in addition to 445,000 stock options, including the Options (as defined below)). The net proceeds will be used to identify and evaluate assets of businesses for acquisition with a view to completing a “Qualifying Transaction” under the Capital Pool Company program of the Exchange.

Haywood Securities Inc. (the “Agent”) acted as agent in connection with the Offering. For its services, the Agent received an administrative fee, a cash commission equal to 10% of the gross proceeds of the Offering as well as options to purchase up to 225,000 Common Shares at an exercise price of $0.10 per Common Share, exercisable until the earlier of (a) 5 years from the date of the listing of the Common Shares on the Exchange; and (b) the date that is one year from the completion of the Corporation’s Qualifying Transaction (as defined in the Policy).

In addition, the Corporation granted an aggregate of 225,000 stock options (the “Options“) to its directors and officers at an exercise price of $0.10 per share for a period of five years from the date of grant.

The Common Shares were admitted for trading on the Exchange and will be trading under the symbol “VCC.p” on or about Monday May 31, 2021.

Dentons Canada LLP acted as legal counsel to the Corporation and Burstall LLP acted as counsel to the Agent.

For more information, please contact Tyler Rice, the Chief Executive Officer of the Corporation.

Tyler Rice, CEO
tyler@ricellp.com
(403) 978-3602

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Neither the 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.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to the satisfaction of conditions and the resumption of trading of Veteran’s common shares. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; delay or failure to receive shareholder or regulatory approvals; and the results of continued development, marketing and sales. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Veteran disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

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