Angus Ventures closes $1.69M IPO and private placement

News Release

ANGUS CLOSES INITIAL PUBLIC OFFERING AND CONCURRENT PRIVATE PLACEMENT

September 1, 2017 TSX Venture Exchange
Trading Symbol: GUS.P

Angus Ventures Inc. (the “Company”), a capital pool company pursuant to Policy 2.4 of the TSX Venture Exchange (the “TSX-V”), is pleased to announce that on September 1, 2017 it completed its initial public offering of 2,000,000 common shares (the “IPO”) issued at a price of $0.10 per share pursuant to an amended and restated prospectus dated July 26, 2017 (the “Prospectus”) and a concurrent private placement of 14,900,000 common shares (the “Placement”) issued at $0.10 per share resulting in aggregate gross proceeds to the Company of $1,690,000.

A cash commission of 8% of the gross proceeds of the offering was paid to the Company’s agent, Haywood Securities Inc. (“Haywood”), as well as a corporate finance fee of $8,000 plus applicable taxes. In addition, Haywood received 160,000 non-transferable warrants to acquire up to 160,000 Shares at a price of $0.10 per Share for a period of 24 months.

The Company will use the net proceeds from the offering for examination and possible participation in, or acquisition of, assets or businesses s for acquisition with a view to completing a “Qualifying Transaction” under the capital pool company program of the TSX-V.

As a result of this issuance, the Company has 18,900,000 shares issued and outstanding, of which 12,300,000 shares have been placed in escrow. The Company’s common shares were listed for trading on the TSX Venture Exchange under the trading symbol “GUS.P” on September 1, 2017 and expects to commence trading at the open on September 6, 2017.

The Company has also granted an aggregate of 1,128,000 incentive stock options (“Options”) to acquire shares to its directors, officers and certain technical consultants, as outlined in the Prospectus, exercisable at a price of $0.10 per share for a period of five years, vesting 25% on grant and every six months thereafter.

On the same date, Jamie Sokalsky acquired, 2,920,000 shares for total consideration of $292,000 ($0.10 per share) under the Placement, 40,000 shares for total consideration of $4,000 ($0.10 per share) under the IPO and was granted 275,000 Options representing in aggregate 16.87% of the Company’s outstanding common shares on a partially diluted basis. After the acquisition, Mr. Sokalsky, owned 3,960,000 common shares and 275,000 Options, representing in aggregate 22.09% of the outstanding common shares on a partially diluted basis.

On the same date, Patrick Langlois acquired, 2,010,000 shares for total consideration of $201,000 ($0.10 per share) under the Placement and was granted 275,000 Options representing in aggregate 11.92% of the Company’s outstanding common shares on a partially diluted basis. After the acquisition, Mr. Langlois, owned 2,910,000 common shares and 275,000 Options, representing in aggregate 16.61% of the outstanding common shares on a partially diluted basis.

On the same date, David Palmer acquired 3,920,000 shares for total consideration of $392,000 ($0.10 per share) under the Placement, 40,000 shares for total consideration of $4,000 ($0.10 per share) under the IPO and was granted 275,000 Options representing in aggregate 22.09% of the Company’s outstanding common shares on a partially diluted basis. After the acquisition, Mr. Palmer, owned 3,960,000 common shares and 275,000 Options, representing in aggregate 22.09% of the outstanding common shares on a partially diluted basis.

The Common Shares referred to above were acquired independently by each of Mr. Sokalsky, Mr. Langlois and Mr. Palmer (collectively, the “Acquirors”) for investment purposes. Each of the Acquirors may increase or decrease their respective ownership or control in securities of the Company depending on, among other factors, market conditions and other relevant factors.

Portions of this press release is being issued pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues which requires a reports of each of the Acquirors to be filed under the Company’s profile on SEDAR (www.sedar.com) containing additional information with respect to the foregoing acquisitions. A copy of the related early warning reports for each of the Acquirors in respect of the acquisitions described above will be filed on www.sedar.com.

On behalf of the Board of Directors
Patrick Langlois
President and Chief Executive Officer
Telephone: (416).777-6073