TORONTO, ON / ACCESSWIRE / July 19, 2022 / IC Capitalight Corp. (CSE:IC) ("Capitalight" or "the Company"), is pleased to announce the sale of its debenture investment portfolio to Starlight Investment Capital LP ("Starlight"). The portfolio consisted of 3,032 debentures issued by Stone Investment Group Limited ("Stone") and was sold at a price of $1,100 per debenture for gross proceeds of $3,335,200. Starlight acquired the debentures as part of its previously announced acquisition of Stone.
Capitalight will use a portion of the proceeds to improve its working capital position and is evaluating internal and external investment opportunities to redeploy the remainder of the capital.
ABOUT IC CAPITALIGHT CORP.
The Company operates as a merchant bank that pursues value-based investment opportunities in accordance with its internal investment policies. The Company currently holds an investment portfolio consisting of cash and the Blue Lake mineral exploration property in Quebec. The Company also owns Capitalight Research Inc., which operates a subscription research business focused on providing gold, silver, copper and nickel, lithium, and rare earth price forecasts as well as Canadian preferred share and economic research.
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation that are not historical facts. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements.
SOURCE: IC Capitalight Corp.
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