Vancouver, BC – 360 Capital Financial Services Group Inc. (CSE:TSZ, www.360capital.ca) announced today the launch of 360 Ventures (VCC) Inc. which is now registered as a Venture Capital Corporation (VCC) under the British Columbia Investment Capital Program. As a VCC, the company will make equity investments in eligible small businesses (ESB) that qualify as an “eligible investment” as set out in the Small Business Venture Capital Act of BC. Investors in the VCC are eligible to receive a 30% refundable tax credit up to a maximum of $60,000 per taxation year.
360 Capital will act as the fund manager and provide Corporate Finance Advisory Services to investee companies as part of the terms of investment. The mandate of the VCC will be to work with companies planning to go public within 6 to 18 months. Our eligible investee companies must have identifiable growth prospects, a scalable business model and should be in one of the following growth sectors:
- Interactive New Media, Information and Communication Technology
- Alternative Energy, Clean and Environmental Technology
- Manufacturing, Processing and Export of Value-Added Goods Produced in BC
- Community Business Diversification Outside of Metro Vancouver/Capital Regional District
- Destination Tourism
360 Ventures’ objective is to partner with Universities, Incubators and Accelerators to identify high-value prospect companies in which to invest. 360 Capital will play an ongoing mentoring and advisory role for each company to assist them with achieving their milestone objectives and goals throughout the business growth cycle. This advisory relationship will enable 360 Ventures to monitor the businesses’ progress and provide regular update reports to VCC investors.
John Gan, 360 Capital Chairman and CEO commented: “360 Ventures, managed by 360 Capital, will act as the lead investor and be the catalyst for raising growth capital for eligible early stage businesses. Capital will be sourced through a combination of 360 Ventures (VCC), 360 Securities EMD (exempt market dealer), equity crowdfunding platform partner Frontfundr.com, and IPO’s (initial public offerings). This combination of sources positions 360 Capital as the ideal advisor and partner for eligible high-potential early stage companies requiring growth capital.” John further stated, “With the launch of our first fund, 360 Capital is establishing itself as a key financial partner to high-potential companies seeking growth capital. 360 Capital is confident we will be expanding our family of fund offerings in the future to include alternative investments that will enhance our strategy to deliver unique services for our business partners and investors.
About 360 Capital Financial Services Group Inc.
360 Capital Financial Services Group (CSE:TSZ, www.360capital.ca), through our subsidiaries and affiliated companies, provides a broad range of financial services including capital raising, corporate finance advisory, merchant banking, IPO consulting, and insurance. To assist in fulfilling these services, 360 Capital has created our 360 Funding Escalator™ that bridges the capital raising gap from early stage to exit for emerging venture companies. This enables us to help develop, grow, and invest in business and venture opportunities through equity investments, acquisitions, partnerships, JVs, and strategic alliances in Asia and Canada.
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management’s current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “predicts”, “intends”, “targets”, “aims”, “anticipates” or “believes” or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions, dependence upon regulatory and shareholder approvals, the execution of definitive documentation and the uncertainty of obtaining additional financing. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise.