Ankh Capital Inc. Announces Closing of Initial Public Offering


Vancouver, British Columbia–(Newsfile Corp. – October 15, 2021) – Ankh Capital Inc. (TSXV: ANKH) (the “Corporation” or “Ankh“), is pleased to announce that it has completed its initial public offering (the “Offering“) today of 10,000,000 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 $1,000,000.

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 ($281,000 in prior sales as more fully described in the Corporation’s prospectus dated August 27, 2021), the Corporation has raised total gross proceeds of $1,281,000 and has a total of 15,620,000 Common Shares issued and outstanding, of which 6,220,000 Common Shares are being held in escrow (in addition to 1,562,000 stock options). The net proceeds will be used 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.

PI Financial Corp. (the “Agent“) acted as agent in connection with the Offering. For its services, the Agent received a corporate finance fee, a commission in the amount equal to 10% of the gross proceeds of the Offering and additional consideration comprised of agent’s share purchase options in an aggregate amount equal to 10% of the Common Shares issued pursuant to the Offering registered in the name of the Agent or as the Agent may otherwise direct (the “Agent’s Options“). Each Agent’s Option will entitle the holder thereof to acquire one common share in the capital of the Corporation (each, a “Common Share“) at an exercise price of $0.10 per Common Share, expiring on the date that is sixty (60) months from the date of the listing and posting of the Common Shares on the TSX Venture Exchange.

On October 14, 2021, the Exchange issued a bulletin approving the listing of the Common Shares as of market open on October 15, 2021, and immediately halting trading pending completion of closing of the Offering. The Common Shares will resume trading under the trading symbol “ANKH” on October 19, 2021.

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

For more information, please contact Roger Milad, the Chief Executive Officer and Chief Financial Officer of the Corporation.

Roger Milad, CEO and CFO
[email protected]
(604) 690-2680

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 Corporation’s stated use of proceeds and satisfaction of conditions and the resumption of trading of Ankh’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.

Ankh 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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