NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OAKMONT CAPITAL CORP.
Suite 910 – 355 Burrard Street
Vancouver, BC V6C 2G8
FOR IMMEDIATE RELEASE
Oakmont Capital Corp. Completes Initial Public Offering as a Capital Pool Company
June 17, 2011 – Vancouver, BC Oakmont Capital Corp. (the “Company”) (TSX-V: OMK.P), a capital pool company, today announces that, it has successfully completed its initial public offering (the “IPO”) of 4,000,000 common shares in the capital of the Company (each, a “Share”) at a price of $0.10 per Share for gross proceeds of $400,000 (the “Proceeds”). Canaccord Genuity Corp. acted as agent (the “Agent”) for the IPO. The Company paid the Agent a cash commission equal to 10% of the Proceeds and granted the Agent non-transferable agent’s warrants (the “Agent’s Warrants”) to purchase 400,000 Shares at a price of $0.10 per Share for a period of 24 months from the date of the Company’s initial listing on the TSX Venture Exchange (the “Exchange”). The Agent also received an administration fee. The Company also granted to its directors and officers incentive stock options to acquire an aggregate of 500,000 Shares at a price of $0.10 per Share, exercisable for a period of five years from the date the Shares are listed on the Exchange. The Company is a capital pool company within the meaning of the policies of the Exchange. The Company has not commenced operations and has no assets other than cash. The Company intends to use the net proceeds of the IPO to identify and evaluate potential Qualifying Transactions in accordance with the policies of the Exchange.
The Company expects its Shares will begin trading on the Exchange on Tuesday, April 21, 2011 under the trading symbol “OMK.P”.
On behalf of the board of directors of
OAKMONT CAPITAL CORP.
Fraser Atkinson
Chief Executive Officer, Chairman and Director
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the Company’s listing of its common shares on the Exchange. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, – 2 –
CW4371929.1
performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. This press release does not constitute an offer to sell or solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to a U.S. Person unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
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.
For further information, please contact:
Fraser Atkinson
Telephone: (604) 220-8048
