Waterfront Capital Closes Non-Brokered Private Placement
West Vancouver, British Columbia – September 5, 2014 – Further to the Company’s news releases of June 17, 2014 and August 8, 2014, Waterfront Capital Corporation (the “Company” or “Waterfront Capital”) is pleased to announce that the Company has closed tranche 2 (the final tranche) of its non-brokered private placement (the “Private Placement”). Under tranche 2, the Company has raised $150,000 by the issuance of 1,500,000 units (the “Units”) at $0.10 per Unit, which closing was facilitated through a gypsy swap as referred to in the Company’s news release of August 22, 2014. Each Unit consists of one common share and one share purchase warrant, with each warrant entitling the holder to purchase an additional common share for a period of two years at an exercise price of $0.20. All of the securities issued pursuant to tranche 2 of the Private Placement are subject to a hold period expiring on December 29, 2014. The Company intends to use the proceeds from the Private Placement for financing and expanding its business and capital markets advisory services and for general working capital purposes.
Early Warning Disclosure
In connection with the Private Placement, Douglas Mason, the Chief Executive Officer and a director of the Company, announces that on August 28, 2014 he acquired, direct or indirect, ownership of 1,500,000 Units of the Company at a price of $0.10 per Unit. As a result, Douglas Mason now has, direct or indirect, ownership of 2,016,556 common shares of the Company representing approximately 15.39% of the issued and outstanding common shares of the Company. In addition, Mr. Mason holds stock options to purchase an additional 275,000 common shares of the Company and also holds warrants for the purchase of an additional 2,050,000 common shares of the Company. If these stock options and warrants were exercised in full, Mr. Mason would own, directly or indirectly, 4,341,556 common shares of the Company representing approximately 28.14% of the Company’s then issued and outstanding common shares, assuming no other shares of the Company are issued. Douglas Mason acquired the Units for investment purposes and he may increase or decrease his ownership position in the future.
For further information, contact Mr. Clive Shallow, Shareholder Communications, at 604-922-2030 or visit the Company’s website at www.waterfrontgroup.com
WATERFRONT CAPITAL CORPORATION
Sead Hamzagic, Chief Financial Officer
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.