Mercari Acquisition Corp. Announces Closing of Private Placement

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NEX: MV.H

TORONTO, Jan. 15, 2013 /CNW/ - Mercari Acquisition Corp. ("Mercari") announces that it has closed its previously announced non-brokered private placement financing. The private placement consisted of 5,800,000 common shares of Mercari ("Common Shares") at a price of $0.05 per Common Share for gross proceeds of $290,000 (the "Offering").

Mercari intends to use the net proceeds from the Offering for general working capital and for identifying and evaluating businesses or assets with a view to completing a potential qualifying transaction.

Under applicable securities legislation and policies of the NEX, the Common Shares issued in the private placement are subject to a hold period expiring on May 16, 2013.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.

ANY SECURITIES REFERRED TO HEREIN WILL NOT BE REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933 (THE "1933 ACT") AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO A U.S. PERSON IN THE ABSENCE OF SUCH REGISTRATION OR AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE 1933 ACT.

Mercari is a capital pool company ("CPC") governed by the policies of the TSX Venture Exchange (as applicable) and the NEX Board of the TSX Venture Exchange. Mercari's principal business is the identification and evaluation of assets or businesses with a view to completing a qualifying transaction.

Investors are cautioned that trading in the securities of a CPC should be considered highly speculative.

Notice on forward-looking statements:

This release includes forward-looking statements regarding Mercari including with respect to the use of net proceeds from the Offering. Such statements are based on the current expectations of the management of Mercari. The forward-looking events and circumstances discussed in this release may not occur by certain specified dates or at all and could differ materially as a result of known and unknown risk factors and uncertainties affecting Mercari, including, but not limited to, the use of the net proceeds from the Offering. Although Mercari has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Mercari undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Mercari Acquisition Corp.

Please contact Elena Masters, Director of Mercari Acquisition Corp. at 416-972-9993