Business News • MarketWire • The Phoenician Fund Corporation I Transfer to NEX Board |
The Phoenician Fund Corporation I Transfer to NEX Board |
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The Phoenician Fund Corporation I Transfer to NEX Board
TORONTO, ONTARIO--(Marketwire - July 7, 2010) - The Phoenician Fund Corporation I (the "Company") (TSX VENTURE:PO.P), a capital pool company, today announced that it has received the requisite shareholders and TSX Venture Exchange ("TSXV") approvals to transfer its listing to the NEX board of the TSXV, as it has not completed a qualifying transaction within the timeframe prescribed by the TSXV. In accordance with TSXV Policy 2.4 - Capital Pool Companies, 625,000 common shares, representing 50% of the seed shares sold to non-arm's length parties of the Company at a discount to the initial public offering price, have been cancelled.
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