September 8, 2006: Pisces Capital Corp.("Pisces") is pleased to announce that it has completed a second tranche closing under its initial public offering and has issued an additional 218,800 common shares at a price of $0.15 per common share for additional gross proceeds of $32,820. A further 21,880 agent's options were issued to Leede Financial Markets Inc., who acted as agent on the offering. These security issuances are in addition to the previously announced issuance of 3,664,200 common shares on August 31, 2006 at the first closing under Pisces' initial public offering. Final materials requesting the listing of Pisces as a Capital Pool Company on the TSX Venture Exchange (the "Exchange") have been submitted to the Exchange. The common shares of Pisces are expected to commence trading on the TSX Venture Exchange at the opening of markets on or about September 12, 2006 under the trading symbol "PCP.P".
As a result of the closing of this offering, Pisces now has 5,883,000 common shares issued and outstanding (2,000,000 of which are subject to escrow restrictions), 388,300 reserved for issuance upon the exercise of options granted to Leede Financial Markets Inc. and 588,300 common shares reserved for issuance upon the exercise of stock options.
Pisces' board of directors and management team is comprised of the following individuals: Lloyd MacLean (President, CEO and a director), James Phillipson (CFO, Corporate Secretary and a Director), Paul Marsiglio (Director), David Tsubouchi (Director), Pierre Gagnon (Director), Phil Droznika (Director) and Julio DiGirolamo (Director).