DC Acquisition Corp. Completes Initial Public Offering and Lists on the TSX Venture Exchange

VANCOUVER, British Columbia, July 31, 2018 (GLOBE NEWSWIRE) -- DC Acquisition Corp. (the Corporation) (TSXV:DCA.P), a capital pool company, is pleased to announce the successful closing of its initial public offering (the Offering) of 25,000,000 common shares in the capital of the Corporation (Common Shares) at a price of $0.10 per Common Share, resulting in gross proceeds to the Corporation of $2,500,000, pursuant to a final prospectus dated June 27, 2018.  Canaccord Genuity Corp. acted as agent in connection with the Offering and received a cash commission of 10% of the gross proceeds of the Offering and was granted an option to purchase 2,500,000 Common Shares at a price of $0.10 per share for a period of 24 months from the date the Common Shares are listed and posted for trading on the TSX Venture Exchange (the Exchange).

The Corporation is a capital pool company pursuant to Policy 2.4 of the Exchange. The Corporation intends to use the net proceeds of the Offering to identify and evaluate assets or businesses for acquisition with a view to completing a Qualifying Transaction (as defined in Policy 2.4 of the Exchange).

The Corporation’s common shares are listed on the Exchange under the trading symbol of "DCA.P".  The common shares are expected to commence trading on the Exchange on Thursday, August 2, 2018.

Immediately following the closing of the Offering, the Corporation granted an aggregate of 1,250,000 options to acquire Common Shares in the capital of the Corporation at an exercise price of $0.10 per Common Share (the Options).  The Options are for a five year term from the date of grant and vest immediately.

The Corporation's shares are not for distribution in the United States.                              

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