Effective at the opening on February 26,
1999, Techgroup Ventures Inc. commenced trading on the Vancouver Stock Exchange. The
company is classified as a "VCP" company and trades under the symbol
"TEC".
The purpose of a Venture Capital Pool issue is to provide a company
with a minimum of funds with which to identify and evaluate assets or businesses with a
view to completing a Qualifying Transaction. The Qualifying Transaction must be accepted
by the VSE and receive the support of the majority of the minority shareholders of the
company. Techgroup Ventures Inc does not have business operations or assets other than
seed capital, and has no written or oral agreements for the acquisition of an asset or
business at this time.
The company's capitalization is 100,000,000 common shares with no par
value of which 3,400,000 common shares are currently issued and outstanding, including
2,000,000 shares held in escrow. Montreal Trust Company is the transfer agent and
Canaccord Capital Corporation is the sponsoring member. Techgroup Ventures Inc. has
completed its initial distribution of shares to the public for total gross proceeds of
$238,000 (1,400,000 shares at $0.17 per share).
The company has issued to its agent a total of 140,000 non-transferable
share purchase warrants. Each warrant entitles the agent to purchase one share of the
company at $0.17 per share up to February 24, 2000 and at $0.20 per shares up to August
23, 2000.
For further information, please refer to the Companys Prospectus
dated January 12, 1999.
TECHGROUP VENTURES INC.
Doug Blakeway, President
Building A, Unit 102, 17802 66th Avenue
Surrey, B.C. V3S 7X1
Telephone: (604) 576-8658 |