Brachium2 Capital Corp. Announces Closing of Initial Public Offering

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Vancouver, British Columbia–(Newsfile Corp. – June 8, 2021) – Brachium2 Capital Corp. (TSXV: BRCB.P) (the “Corporation” or “Brachium2“), is pleased to announce that it has completed its initial public offering (the “Offering“) of 3,000,000 common shares in the capital of the Corporation (the “Common Shares“) at a purchase price of $0.10 per Common Share by way of a prospectus for gross proceeds of $300,000.

Brachium2 is headed by a team consisting of Bryant Pike as its Chief Executive Officer, Chief Financial Officer and director, Kris Miks and Larry Nevsky, as corporate directors, and Benjamin Iscoe as its Corporate Secretary. The team will work with high quality targets seeking access to the public capital markets.

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.

When combined with the Corporation’s cash proceeds raised prior to the Offering ($515,000 cash proceeds were raised prior to the Offering as more fully described in the Corporation’s final prospectus dated May 19, 2021), the Corporation has raised total gross proceeds of $815,000 and has a total of 9,300,000 Common Shares issued and outstanding, of which 2,300,000 Common Shares are being held in escrow. 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.

PI Financial Corp. (the “Agent“), acted as agent in connection with the Offering. For its services, the Agent received a corporate finance fee of $10,000 and a cash commission of $30,000 and options, equal to 10% of the gross proceeds of the Offering, to purchase up to 300,000 Common Shares at an exercise price of $0.10 per Common Share, exercisable for a period of two (2) years from the date hereof.

In addition, the Corporation granted an aggregate of 930,000 stock options to its directors and officers at an exercise price of $0.10 per share, exercisable on or before June 8, 2026.

The Common Shares were admitted for trading on the Exchange and will be trading under the symbol “BRCB.P”.

Norton Rose Fulbright Canada LLP acted as legal counsel to the Corporation and MLT Aikins LLP acted as counsel to the Agent.

For more information, please contact Bryant Pike, the Chief Executive Officer of the Corporation.

Bryant Pike, CEO and Director
bpike@btlgcapital.com
T: 604 838-0110

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 STATEMENTS

This news release includes “forward-looking information” and “forward-looking statements” under applicable Canadian securities legislation (together, “forward-looking statements“). Forward-looking statements include, but are not limited to, statements with respect to the Corporation’s pursuit of high quality targets and the use of proceeds of the Offering. 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.

The forward-looking statements contained in this news release are made as of the date of this news release and, except as required by applicable law, the Corporation does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement and the risk factors set forth in the Corporation’s final prospectus dated May 19, 2021 which is available under the Corporation’s SEDAR profile at www.sedar.com.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/86940