Texada to Undertake C$1,500,000 Equity Financing
May 8, 2007Vancouver, British Columbia, May 8, 2007: Texada Capital Corp. (TSXV: TXC.P) (the "Company"), a Capital Pool Company, is pleased to announce that it has negotiated a non-brokered private placement of up to 10,000,000 common shares at a price of C$0.15 per common share for gross proceeds to the Company of up to C$1,500,000.
The proceeds of the private placement will be used towards the identification and evaluation of a potential business or asset acquisition in order to complete a Qualifying Transaction.
The Company may pay a finder's fee in respect of the private placement.
The completion of the private placement is subject to the approval of the TSX Venture Exchange.
On behalf of the Board of Directors
'Darren Devine' Director
For more information, please contact:
Darren Devine, Director
Texada Capital Corp.
Phone: (604) 638-8067
Fax: (604) 688-9620
Email: chelmer@shaw.ca
The TSX Venture Exchange does not accept
responsibility for the adequacy or accuracy of this release.
Caution Regarding Forward-looking Information:
Information in this news release respecting the proposed private placement, the use of the proceeds therefrom, and the payment of a finders' fee constitutes forward-looking information. Statements containing forward-looking information express, as at the date of this news release, the Company's plans, estimates, forecasts, projections, expectations, or beliefs as to future events or results and are believed to be reasonable based on information currently available to the Company. However, the private placement, and the related use of proceeds and payments connected thereto, is subject to certain conditions that include external factors affecting the financial markets which are not within the Company's control. If for any reason the financing does not complete the Company may be obliged to curtail its identification and evaluation activities and seek other sources of financing, which may or may not be available on reasonable terms or at all. Forward-looking statements and information are based on assumptions that financing, equipment and personnel will be available when required and on reasonable terms, none of which are assured and are subject to a number of other risks and uncertainties described under "Risk Factors" in the Company's Final Prospectus and other regulatory filings, which are available on SEDAR under the Company's profile at www.sedar.com.
There can be no assurance that forward-looking statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on forward-looking information.