April 5, 2022 – TheNewswire - Seven Oaks Capital Corp. (the “Corporation”) (TSXV:SEVN.P), a capital pool company, is pleased to announce the completion of its initial public offering (the “Offering”). The Corporation issued 3,500,000 common shares in the capital of the Corporation (the “Common Shares”) at a price of $0.10 per share, for gross proceeds to the Corporation of $350,000. As a result of this issuance, the Corporation has 11,600,000 Common Shares issued and outstanding.

The Common Shares will commence trading on the TSX Venture Exchange (the “Exchange”) at the opening of the market on April 5, 2022 under the trading symbol of "SEVN.P”.

Canaccord Genuity Corp. (the “Agent”) acted as agent for the Offering. In connection with the Offering, the Corporation granted to the Agent a non-transferable option to acquire up to an aggregate of 350,000 Common Shares (the “Agent’s Option”). The Agent’s Option is exercisable to acquire one Common Share at a price of $0.10 for a period of 60 months following the date that the Common Shares are listed on the Exchange. In connection with the Offering, the Agent also received a cash commission equal to 10% of the aggregate gross proceeds from the sale of the Common Shares, along with a corporate finance fee.

The net proceeds of the Offering 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 Capital Pool Company program of the Exchange.

Pursuant to the Offering, 8,427,000 Common Shares have been deposited into escrow with TSX Trust Company, the Corporation’s escrow agent.

The current directors and officers of the Corporation are: Grand McLeod (Chief Executive Officer and Director); David Redekop (Chief Financial Officer); Myles Fontaine (Chief Operating Officer, President and Corporate Secretary); Dexter John (Director); and Karen Azlen (Director). The Corporation granted its directors and officers options to purchase an aggregate of 350,000 Common Shares at $0.10 per share for a period of five years from the date of grant.

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. 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 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 additional information, please see the amended and restated (final) prospectus of the Corporation dated March 11, 2022 or contact:  

Grant McLeod

Chief Executive Officer and Director

Seven Oaks Capital Corp.

Telephone: 416-910-3401

Neither 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.

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