Black Birch Capital Acquisition I Corp. Announces Closing of Initial Public Offering

Black Birch Capital Acquisition I Corp. (the "Company") (TSX VENTURE:BBC.P) is pleased to announce that it has completed its initial public offering through its agent, Northern Securities Inc. ("Northern") of 2,342,500 common shares at the price of $0.20 per common share for total gross proceeds of $468,500. The Company has received conditional acceptance to be listed as a capital pool company on the TSX Venture Exchange (the "TSXV"). The common shares of the Company are expected to commence trading on the TSX Venture Exchange at the opening of markets on approximately September 3, 2009 under the trading symbol "BBC.P". As consideration for its role as the agent, the Company granted to Northern and subagent a non-transferable option to purchase up to 234,250 common shares of the Company at a price of $0.20 per common share for a period of 24 months from the date the Company's common shares are listed on the TSXV. In addition, Northern received a cash commission equal to 10% of the gross proceeds of the offering.

As a result of the closing of this offering, the Company now has 3,342,520 common shares issued and outstanding (1,000,020 of which are subject to escrow restrictions), 234,250 reserved for issuance upon the exercise of options granted to Northern and sub-agent and 334,252 common shares reserved for issuance upon the exercise of stock options. The escrowed shares will be released in staged releases over a period of 36 months. The Company's board of directors and management team is comprised of the following individuals: Paul Haber (Director, President, Chief Executive Officer, Chief Financial Officer and Secretary), Robert Hawkes (Director), Henry Tse (Director) and Patricia Virc (Director).

SOURCE: Black Birch Capital Acquisition I Corp.

Black Birch Capital Acquisition I Corp.
Paul Haber, President
Chief Executive Officer, Chief Financial Officer & Secretary
(416) 318-6501
Email: phaber@blackbirchcap.com

Related terms: ceo, president, public offering, securities, stock option