The Company also issued warrants to Union Securities Ltd, who acted as agent for the offering, entitling Union Securities to acquire an aggregate of 350,000 common shares of the Company at an exercise price of $0.10 per share for a period of 18 months from the date the Company's common shares are listed for trading on the TSX Venture Exchange (the "Exchange"). In addition, under the Company's stock option plan, the Company granted incentive stock options to the Directors and Officers of the Company entitling them to acquire an aggregate of 350,000 common shares of the Company at an exercise price of $0.10 per share, which options will expire on June 5, 2008.
Artha commenced trading on the Exchange on Monday, June 5, 2006. The Company's trading symbol is AHC.P and the Company is classified as a capital pool company pursuant to Policy 2.4 of the Exchange.
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Artha Resources Corporation
The TSX Venture Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this release.
Vancouver, British Columbia -- Artha Resources Corporation ("Artha") is pleased to announce that it has completed its initial public offering (the "Offering") of 3,500,000 common shares at $0.10 per share for gross proceeds of $350,000. As a result of this issuance, the Company has 6,650,001 common shares issued and outstanding, of which 3,150,001 are subject to escrow restrictions.