Bucephalus Announces Changes to Management and Board of Directors
March 2, 2021
Toronto, Ontario--(Newsfile Corp. - March 2, 2021) - Bucephalus Capital Corp. (CSE: BCA) ("Bucephalus" or the "Company") today announced the appointment of John A. McMahon to serve as Chairman and Chief Executive Officer. The Company has accepted the resignation of Mr. Lucas Ewart as CEO and from the board of directors ("Board"). The company is also pleased to announce the addition of Tim Diamond to the Board.
Mr. Diamond brings over 30 years of entrepreneurial and managerial experience across asset management, real estate, merchant banking, and venture investing including founding, building and successfully exiting several companies. Since 2014, Mr. Diamond has been CEO of Whitehall Apartments Corp. a private REIT and has served on the boards of numerous publicly listed investment funds during his career and currently sits on the board of Trichome Financial Corp, a publicly listed finance company.
Mr. McMahon has held a number of senior banking roles within the investment industry and is currently Managing Partner of Thought Launch Capital & Advisory. Prior to this role, he served as Vice Chairman and Head of Investment Banking for Mackie Research Capital Corporation and subsequently, Managing Director of Investment Banking for Industrial Alliance Securities.
The management and Board of the Company are as follows:
John McMahon - Chief Executive Officer, Director
Chris Carmichael - Chief Financial Officer
Tim Diamond - Director
Jason Ewart - Director
Alec Regis - Director
Further, subject to all regulatory approvals, the Company is pleased to announce it intends to raise up to $1,250,000 through the issuance of 25,000,000 units (the "Units") at a price of $0.05 in a non-brokered private placement (the "Private Placement"). Each Unit will consist of one common share and one common share purchase warrant. Each common share purchase warrant is exercisable into one additional common share at a price of $0.20 for a period of 36 months from the closing date.
A finder's fee may apply to a portion of the proceeds raised under the Private Placement. All securities issued pursuant to the Private Placement will be subject to a four month hold period from the date of issue. Proceeds from the Private Placement will be used by the Company for working capital and for other general and administrative costs.
The Company has also sold its ownership in Marathon Mortgage Corp. ("MMC") for $670,000. In 2019, the Company adjusted the fair value of its MMC shares to $Nil.
About Bucephalus Capital Corp.
Bucephalus Capital (CSE: BCA) is a specialized investment firm providing bridge loans and ancillary services to private and public companies with respect to a variety of financial transactions including public listings, RTOs (reverse takeovers), re-structuring and M&A transactions.
Additional information about the Company can be found on the Company's website at www.bucephaluscapital.ca. For further information, please contact:
John McMahon, CEO
Certain information set forth in this news release may contain forward‐looking information that involves substantial known and unknown risks and uncertainties. This forward‐looking information is subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to, the impact of general economic conditions, industry conditions, and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward‐looking information. The parties undertake no obligation to update forward‐looking information except as otherwise may be required by applicable securities law.
Neither the Canadian Securities Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.