Vancouver, British Columbia--(Newsfile Corp. - October 21, 2016) - 360 Capital Financial Services (CSE: TSZ) has launched 360 Ventures, which is registered as a Venture Capital Corporation under the British Columbia Investment Capital Program. As a VCC, the company will make equity investments in eligible small businesses that qualify as an "eligible investment" as set out in the Small Business Venture Capital Act of BC.
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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.
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.
John Gan, CEO, stated: "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."
The shares are trading at $0.03 and with 48.9 million shares outstanding, the company is capitalized at $1.5 million.
For more information, please visit the company's website www.360capital.ca, contact Michael Ruggles, VP Investor Outreach, at 778-888-3892 or email [email protected]
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