Gunpowder Capital Corp. Announces Closing of the Third Tranche of its Current Private Placement Raise

TORONTO, ON / ACCESSWIRE / December 30, 2016 / Gunpowder Capital Corp. (CNSX: GPC) (CNSX: GPC.PR.A) (FSE: YS6N) (“Gunpowder” of the “Corporation”) announced today that it has closed the third tranche of its previously announced (Nov 16th, 2016) non-brokered private placement raise. In total, Four Hundred and Thirty-Five Thousand, Nine Hundred and Forty Dollars (“$435,940.00”) CDN was raised via the sale of Forty-Three Thousand, Five Hundred and Ninety-Four (“43,594”) a “Class – A” Preferred Shares. No commission or finder’s fee is payable with respect to the closing of this tranche of the placement.

In total, combined with the closing of both the first and second tranches of this offering, the Corporation has now raised Six Hundred and Thirty-Seven Thousand, Four Hundred & Forty Dollars (“$637,440.00”) CDN via the issuance of Sixty-Three Thousand, Seven Hundred and Forty-Four (“63,744”) “Class – A” Preferred Shares.

The “Class – A” preferred shares will pay up to an 8% annual dividend to the holders of the preferred shares. Furthermore, holders of the Preferred Shares will also see a 25% of after tax realized gains on any capital dispositions. No special voting rights will be granted to the holders of the Preferred Shares. In connection with the preferred share offering, a finder’s fee may be paid consisting of a cash commission equal up to 8% of the gross proceeds raised under the offering. The placement is expected to close on, or before, February 16th, 2017.

For further information please contact:

Mr. Frank Kordy
Interim CEO & Director
Gunpowder Capital Corp.
T: (647) 466-4037
E: frank.kordy@gunpowdercapitalcorp.com

Mr. Paul Haber
CFO
Gunpowder Capital Corp.
T: (416) 363-3833
E: paul.haber@gunpowdercapitalcorp.com

Forward-Looking Statements

Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Corporation 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 expressly required by applicable securities legislation. Although Management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such. Neither CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Gunpowder Capital Corp.

ReleaseID: 451998