Roshni Capital Inc. Completes Initial Public Offering

Toronto, Ontario–(Newsfile Corp. – December 8, 2021) – Roshni Capital Inc. (TSXV: ROSH.P) (the “Corporation“) is pleased to announce that it has completed its initial public offering of 5,000,000 common shares in the capital of the Corporation (the “Common Shares“) at a price of $0.10 per Common Share for aggregate gross proceeds of $500,000 (the “Offering“) pursuant to a prospectus dated November 9, 2021 (the “Prospectus“) filed with the Ontario, British Columbia and Alberta Securities Commissions. Following the closing of the Offering, a total of 8,000,000 Common Shares are issued and outstanding, of which 3,000,000 are currently held in escrow pursuant to the policies of the TSX Venture Exchange (the “Exchange“). It is anticipated that the Common Shares will commence trading on the Exchange under the stock symbol “ROSH.P” today, December 8, 2021.

The net proceeds of the Offering, together with the proceeds from prior sales of Common Shares, will be used by the Corporation to identify and evaluate assets or businesses for acquisition with a view to completing a “Qualifying Transaction” under the Exchange’s capital pool company program.

Haywood Securities Inc. (the “Agent“) acted as agent for the Offering. In connection with the Offering, the Corporation compensated the Agent as follows: (a) $44,625 cash commission, (b) $10,000 corporate finance fee and (c) options to acquire up to 446,250 Common Shares at a price of $0.10 for a period of three years following the listing date.

In connection with the closing of the Offering, the Corporation also announces the grant of stock options to directors and officers exercisable to acquire up to 800,000 Common Shares as described in further detail in the Prospectus.

For further information please see the Prospectus available under the Corporation’s profile on SEDAR at www.sedar.com.

FORWARD-LOOKING STATEMENTS

This press release contains certain forward-looking statements, including statements about the Corporation’s future plans and intentions, listing of the Common Shares on the Exchange, use of proceeds of the Offering and completion of a Qualifying Transaction. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.

Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors (including those discussed in the Prospectus) could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, the Corporation cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release, and the Corporation assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

For further information please contact:

Roshni Capital Inc.
Prit Singh, Chief Executive Officer and Director
Telephone: 905.510.7636

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Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/107052