Fareport Receives Receipt For Final Prospectus.Business Editors TORONTO--(BUSINESS WIRE)--Jan. 23, 2004 Fareport Capital Inc. ("Fareport") is pleased to announce that it has received a receipt dated January 23, 2004 for its final prospectus Final Prospectus A legal document stating the price of a newly issued security, the delivery date, and other facts that are important for investors. Notes: The final prospectus must be given to every investor who purchases a new issue of registered securities. dated January 21, 2004 from the Ontario Securities Commission The Ontario Securities Commission (OSC) is a regulatory agency which administers and enforces securities legislation in the Canadian province of Ontario. The OSC is an Ontario Crown corporation which reports to the Ontario legislature through the Minister of Finance. . The prospectus qualifies, amongst other things, 8,350,000 common shares and 4,175,000 common share purchase warrants issuable upon exercise of previously issued Special Warrants pursuant to a private placement completed on September 25, 2003. Each Special Warrant is exercisable into one common share and one-half of one common share purchase warrant of Fareport for no additional consideration. Each whole common share purchase warrant will be exercisable into one common share at a price of $0.16 at any time on or before 5:00p.m. (Toronto time) September 25, 2005. Fareport Capital owns and operates Crown Taxi and Olympic Taxi, both taxi brokerages operating in the city of Toronto. In addition, Fareport maintains an asset financing Asset Financing Using balance sheet assets (such as accounts receivable, short-term investments or inventory) to obtain a loan or borrow money - the borrower provides a security interest in the assets to the lender. division, currently focused on the financing of vehicles and related assets by taxicab owners and operators. Issued Capital: 18,148,077 Common Shares Neither the TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. , nor any other securities Regulatory Authority Noun 1. regulatory authority - a governmental agency that regulates businesses in the public interest regulatory agency administrative body, administrative unit - a unit with administrative responsibilities has approved or disapproved of the contents of this news release. |
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