Hill Street Beverage Co (TSXV: BEER) this morning announced that it intends to complete a non-brokered private placement for gross proceeds of at least $2.5 million. The size of the offering however has not yet been finalized, with initial commitments amounting to this figure.
Under the offering, units of the company are to be sold at a price of $0.08 per unit. Each unit contains one common share and one common share purchase warrant. Each warrant is valid for a period of three years from the date of issuance, with an exercise price of $0.11 per share.
The financing is expected to close in multiple tranches, the first of which is slated to close in “early February.”
Sponsored · Selkirk Copper Mines
The news of the financing this morning was tucked at the bottom of a news release announcing the appointment of Jack Fraser to the role of Chairman. Fraser is a partner of BDC Capital’s Late Stage Growth Coinvest Fund, and has over 30 years worth of experience in digital media and e-commerce.
Hill Street Beverage Co last traded at $0.11 on the TSX Venture.
Information for this briefing was found via Sedar and Hill Street Beverage Company. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
