NL2 Capital Inc. Completes Initial Public Offering Led by Gravitas Securities Inc.

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Trading Symbol: TSX-V: NLII

HALIFAX, NS, March 28, 2023 /CNW/ - NL2 Capital Inc. (TSXV: NLII) ("NL2" or "the Company"), a capital pool company, is pleased to announce that it has completed its initial public offering (the "Offering") of 5,274,500 common shares at a price of $0.10 per common share for gross proceeds to the Company of $527,450. 

Gravitas Securities Inc. (the "Agent") acted as agent for the Offering and was paid a cash commission equal to 10% of the gross proceeds of the Offering and non-transferrable options (the "Agent's Options") to purchase up to 527,450 common shares of the Company.  The Agent's Options are exercisable until March 28, 2028, at a price of $0.10 per common share.

NL2's common shares have been conditionally approved for listing on the TSX Venture Exchange (the "Exchange").  The Company expects its common shares will commence trading on the Exchange as soon as practicable under the symbol "NLII.P".

The net proceeds of the Offering will be used to identify and evaluate assets or businesses for acquisition with a view to completing a Qualifying Transaction pursuant to Exchange Policy 2.4 – Capital Pool Companies, as disclosed in the Company's prospectus dated December 22, 2022 and filed on SEDAR at www.sedar.com.

The current directors of the Company are Chris Dobbin, Dana Hatfield, Michael O'Keefe, and Wayne Myles.

Prior to the closing of the Offering, the Company granted stock options to its directors and officers to acquire an aggregate of 1,370,000 common shares at a price of $0.05 per share, exercisable until March 27, 2033. Such stock options are subject to escrow pursuant to the terms of an escrow agreement dated December 22, 2022.

CAUTIONARY STATEMENT:

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking statements unless and until required by securities laws applicable to the Company. Additional information identifying risks and uncertainties is contained in the Company's filings with the Canadian securities regulators, which filings are available at www.sedar.com. 

SOURCE NL2 Capital Inc.

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