NOTE 8 — SUBSEQUENT EVENTS

On September 16, 2016, the proceeds of the Trust Account were invested in U.S. treasury bills yielding interest of approximately 0.4% per annum.

On September 28, 2016 the Company announced that it had consummated the sale of an additional 400,610 units pursuant to the partial exercise of the underwriters' over-allotment option in connection with the Company’s initial public offering. The additional units were sold at $10.00 per unit, generating additional gross proceeds of $4,006,100 to the Company.

Of the proceeds received from the consummation of the over-allotment option exercise of units and a simultaneous private placement of Warrants to Dominium Investments Inc. and Firmus Investments Inc., the Company’s Sponsors (320,488 additional Warrants sold at $0.50 per Warrant), $4,086,222 was placed in trust, increasing the amount in trust from $66,300,000 to a total of $70,386,222 (or $10.20 per unit sold in the public offering). As a result of the partial exercise of the overallotment option, the Company incurred additional offering costs of approximately $80,000 in underwriting fees and 6,164 shares of common stock issued to the underwriters as additional compensation. Additional underwriting fees of approximately $100,000 were deferred until the completion of the Company's initial Business Combination. A pro forma balance sheet of the Company as of September 28, 2016 reflecting receipt of the proceeds upon consummation of the partial exercise of the over-allotment option and the private placement has been included as an exhibit to a Form 8-K Report filed by the Company with the Securities and Exchange Commission on September 30, 2016.

On October 4, 2016, the proceeds from the partial exercise of the underwriters' over-allotment option in connection with the Company’s initial public offering were invested in U.S. treasury bills yielding interest of approximately 0.4% per annum.