OneCap Investment Corporation announces transfer to NEX

Not for distribution in the United States or over United States wire services

MONTREAL, Dec. 12, 2014 /CNW Telbec/ - OneCap Investment Corporation (TSXV: OIC.P) ("OneCap" or the "Corporation"), a capital pool company as defined under Policy 2.4 – Capital Pool Companies of the TSX Venture Exchange (the "TSXV"), announces the transfer of its listing to the NEX Board of the Exchange (the "NEX") effective December 16, 2014.

The deadline for OneCap to complete its Qualifying Transaction (as defined in the CPC Policy) was September 12, 2014. As the Corporation has been unable to complete a Qualifying Transaction to date pursuant to the CPC Policy, it received written approval by a majority of its shareholders, excluding its directors, to transfer its listing to the NEX and to cancel 1,000,000 Seed Shares (as defined by the Exchange) held directly or indirectly by the directors: Jean Desmarais, Daniel Dorey, Pierre Albert Jean, Jean-Guy Lambert, Pierre Bonin and Pierre Setlakwe.

As of December 16, 2014, the trading symbol for the Corporation will change from "OIC.P" to "OIC.H". The executive of OneCap continues to work diligently to fund the acquisition of a 50% share in the Winnipeg Data Centre project (its projected "Qualifying Transaction"). Please see the Corporation's press release of April 29, 2014 for details of the Qualifying Transaction. Additional updates will be provided as they become available. Trading of the shares of OneCap will remain suspended pending completion of the Qualifying Transaction.

The Corporation's common shares (the "Common Shares") commenced trading on the TSXV on September 12, 2012. On January 24, 2013, the Common Shares were halted at the request of the Corporation pending an announcement.  They remained halted pending receipt and review of acceptable documentation regarding the Qualifying Transaction pursuant to TSXV Listing Policy 2.4 until September 15, 2014 when they were suspended from trading for failure to complete the Qualifying Transaction within 24 months from listing. 

Completion of the Qualifying Transaction is subject to a number of conditions, including but not limited to, Exchange acceptance and if applicable pursuant to Exchange Requirements, majority of the minority shareholder approval. Where applicable, the Qualifying Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Qualifying Transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the Qualifying Transaction, any information released or received with respect to the Qualifying Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.

The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed Qualifying Transaction and has neither approved nor disapproved the contents of this press release.

Neither 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: OneCap Investment Corporation

Pierre Setlakwe, President, Chief Executive Officer and Director, Telephone: [phone]