June 28, 2018 / TheNewswire / Kelowna, British Columbia - Decisive Dividend Corporation (TSX-V: DE) (“Decisive” or the “Corporation”), a growth-oriented acquisition company, is pleased to announced that it has completed the initial closing of its previously announced best efforts public offering (the “Offering”) of common shares through its agent, Industrial Alliance Securities Inc. (the “Agent”).  The Corporation sold 3,198,145 common shares at a price of $4.00 per share for aggregate gross proceeds of $12,792,580.

 

The Corporation paid to the Agent aggregate commissions of $825,895 and issued an aggregate of 206,474 broker warrants to the Agent and other selling group members as directed by the Agent.  Each broker warrant entitles the holder thereof to purchase one common share of the Corporation at a price of $4.00 per share at any time within 18 months of the initial closing of the offering.

 

The Offering continues under the Corporation’s short form prospectus dated June 19, 2018.  The Corporation and the Agent currently anticipate a second and final closing to occur in July, 2018.

 

The net proceeds of the first closing of the Offering will be used to satisfy the cash component of the purchase price payable upon the closing of Decisive’s previously announced acquisition of Hawk Machine Works Ltd. which is scheduled to close later today.

 

James Paterson, Chief Executive Officer of the Corporation said:  “We are very pleased at investors’ positive response to our public offering.  The successful first closing of the offering will enable us to complete our previously announced acquisition of Hawk Machine Works Ltd., which will be our second completed acquisition in 2018.  We continue to build our potential acquisition pipeline and our ability to access capital is an important factor in acquiring additional attractive manufacturing companies.  On behalf of Decisive Dividend Corporation, I would like to thank Industrial Alliance Securities Inc. for leading this successful public financing.”

 

About Decisive Dividend Corporation

 

Decisive Dividend Corporation is an acquisition-oriented company, focusing on the manufacturing sector.  The Corporation uses a disciplined acquisition strategy to identify already profitable, established companies that have strong management teams, generate steady cash flow, operate in non-cyclical markets, and have opportunity for future growth.

 

For additional information regarding Decisive Dividend Corporation and its operating subsidiaries, see its short form prospectus dated June 19, 2018 and its annual information form dated April 17, 2018.

 

FOR FURTHER INFORMATION PLEASE CONTACT:

 

Mr. David Redekop, Chief Financial Officer

#201, 1674 Bertram Street

Kelowna, BC V1Y 9G4

Telephone: (250) 870-9146

 

Cautionary Statements

 

Forward-Looking Statements

 

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on management’s current beliefs, assumptions and expectations as to the outcome and timing of such future events.  Actual future results may differ materially. In particular, this press release contains forward-looking information relating to the potential second closing of the Offering and the acquisition of Hawk Machine Works Ltd.  Risk factors that could cause actual results or outcomes to differ materially from the results expressed or implied by forward-looking information include, among other things: the failure to successfully complete such transactions.  The Corporation cautions the reader that the above list of risk factors is not exhaustive.  The forward-looking information contained in this release is made as of the date hereof and the Corporation is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

 

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