Navion Capital II Announces Completion of Initial Public Offering

CALGARY, AB / ACCESSWIRE / February 29, 2024 / Navion Capital II Inc. (TSXV:NVN.P) (the "Corporation"), a capital pool company, is pleased to announce that it has completed its initial public offering of 2,500,000 common shares at the price of $0.10 per common share for gross proceeds of $250,000 (the "Offering") and has filed for listing as a Capital Pool Company on the TSX Venture Exchange (the "TSXV"). PI Financial Corp. (the "Agent") acted as agent for the Offering. The common shares of the Corporation were approved for listing on the TSXV on February 29, 2024 and are expected to commence trading on the TSXV effective at the opening on or about March 4, 2024 under the trading symbol "NVN.P".

As a result of the closing of the Offering, the Corporation now has 4,600,000 common shares issued and outstanding, 2,100,000 common shares of which are subject to TSXV escrow restrictions, 250,000 common shares reserved for issuance upon the exercise of agent's options granted upon completion of the Offering exercisable at a price of $0.10 per common share within 60 months from the date of issuance (the "Agent's Options") and 460,000 common shares reserved for issuance upon the exercise of stock options issued to directors and officers of the Corporation exercisable at a price of $0.10 per common shares within 60 months from the date of grant.

The Agent received a cash commission equal to 10% of the total gross proceeds of the Offering, a corporate finance fee and the Agent's Options exercisable at a price of $0.10 per common share up to 60 months from the date of issuance.

The net proceeds of the Offering will be used by the Corporation to identify and evaluate assets or businesses for acquisition with a view to completing a "Qualifying Transaction" pursuant to the Capital Pool Company program of the TSXV as disclosed in the Corporation's prospectus dated January 10, 2024.

The following individuals comprise the Corporation's board of directors and management team: Peter Hughes, Chief Executive Officer, Chief Financial Officer, Corporate Secretary and a Director, and Richard Steed, Livion Susin and Natalie Moores as Directors.

For Further Information

Navion Capital II Inc.
Peter Hughes
Chief Executive Officer, Chief Financial Officer, Corporate Secretary and a Director
Telephone: (604) 802-7372
Email: petehughes@me.com

The forward-looking statements contained in this press release are made as of the date of this press release, and the Corporation does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law.

THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES. THESE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.

Neither the 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.

SOURCE: Navion Capital II Inc.