April 25, 2008 – Vancouver, British Columbia. Angelwest Capital Corp. (the “Corporation”), a capital pool company, is pleased to announce that on April 18, 2008 it successfully completed its initial public offering (the “Offering”) through its agent, Leede Financial Markets Inc. (the “Agent”), of 2,000,000 common shares (the “Shares”) for gross proceeds of $400,000. In addition, the Corporation granted to the Agent a nontransferable warrant to purchase up to 200,000 Shares at a price of $0.20 per Share and which may be exercised for a period of 24 months from the day the Shares are listed on the TSX Venture Exchange (the “Exchange”). The Agent was also paid a corporate finance fee for its services in connection with the Offering.
The board of directors of the Corporation consists of Michael Volker, Alan Werenko, Bruce Schmidt and Robert de Wit.
The Corporation’s common shares commenced trading on the Exchange on April 24, 2008 under the trading symbol “AWC.P”.
The Company is a CPC within the meaning of the policies of TSX-V. The Company commenced operations when it completed its initial public offering but it presently has no assets other than cash. Since the date of listing of the Company’s shares on the TSX-V, the Company has identified and evaluated numerous businesses and assets with a view to completing a “Qualifying Transaction” under the TSX-V’s CPC policies. Trading in the Company’s shares will remain halted until the earlier of TSXV acceptance of the Transaction or the filing of satisfactory documents with the TSX-V by a sponsor engaged to review the Transaction.
Investors are cautioned that trading in the securities of a capital pool company should be considered highly speculative. The TSX venture exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this release.
For further information, please contact
Chief Executive Officer
7300-515 West Hastings Street
Vancouver, BC V6B 5K3