Apr 23, 2019, 14:14 ET
Geyser Brands announces a $400,000 private placement financing at $0.65 per Unit to fund the continuing development of its growth initiatives.
/THIS NEWS RELEASE, PROVIDED PURSUANT TO APPLICABLE CANADIAN REQUIREMENTS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN. THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS ABSENT REGISTRATION OR APPLICABLE EXEMPTION FROM REGISTRATION REQUIREMENTS./
VANCOUVER, April 23, 2019 /CNW/ - Geyser Brands Inc. (TSXV:GYSR) ("Geyser Brands" or the "Company") is pleased to announce its intention to carry out a non-brokered private placement (the "Offering") of up to 615,385 units (the "Units") at a price of CDN$0.65 per Unit for gross proceeds of up to CDN $400,000.25. Each Unit consists of one common share in the capital of the Company (a "Share") and one common share purchase warrant (a "Warrant"). Each Warrant will be exercisable into one Share at an exercise price of CDN $0.85 per Share for a period of 24 months from issuance of the Units. The Company now anticipates closing of the Offering to occur on or about April 23, 2019. The Offering is subject to the approval of the TSX Venture Exchange.
The Company intends to use the proceeds of the Offering for general working capital purposes to fund the continuing development of the Company's operational and international growth initiatives. No finder's fees are payable in respect to the Offering.
The Offering is eligible to be purchased by subscribers who are "accredited investors" or who qualify under another exemption from prospectus requirements in the jurisdictions where the Offering is sold. Insiders may participate in the Offering. The securities issued under the Offering, and any Shares that may be issuable on the exercise of any such securities, will be subject to a statutory hold period expiring four months and one day from the date of issuance of such securities under applicable Canadian securities laws. Additional resale restrictions and legends may apply to any subscribers outside of Canada.
"Investing in operational capacity expansion is vital to maintaining our brands' existing leadership positions in the global cannabis industry," said Andreas Thatcher, CEO of Geyser Brands. "This financing gives us additional resources so we can maintain our momentum and launch ourselves through the window of opportunity that exists domestically and abroad so we can continue to lead a sector forward into new territory."
ABOUT GEYSER BRANDS INC.
Geyser Brands Inc. builds health-based hemp CBD consumer products in the Nutraceutical, Cosmetics, Food & Beverage, and Pet sectors world-wide. R&D investment in NanoFusion - a proprietary all-natural nanotechnology - delivers topical, cream, beverages and baked goods, oil, and tincture formulations with superior bio-availability and water-solubility. Geyser Brands Inc. is a Health Canada approved Licensed Producer in Port Coquitlam, B.C.
On Behalf of the Board of Directors
Director and CEO
THIS NEWS RELEASE, PROVIDED PURSUANT TO APPLICABLE CANADIAN REQUIREMENTS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN. THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS ABSENT REGISTRATION OR APPLICABLE EXEMPTION FROM REGISTRATION REQUIREMENTS.
CAUTIONARY AND FORWARD-LOOKING STATEMENTS
This news release contains forward‐looking statements and forward‐looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward‐looking statements or information. Forward‐looking statements and information are often, but not always, identified by the use of words such as "appear", "seek", "anticipate", "plan", "continue", "estimate", "approximate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe", "would" and similar expressions.
Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the risks associated with the marijuana industry in general such as operational risks in growing; competition; incorrect assessment of the value and potential benefits of various transactions; ability to access sufficient capital from internal and external sources; failure to obtain required regulatory and other approvals and changes in legislation, including but not limited to tax laws and government regulations. Accordingly, readers should not place undue reliance on the forward‐looking statements, timelines and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive.
SOURCE Geyser Brands Inc.
For further information: #330-321 Water St., Vancouver, B.C., V6B 1B6, Tel: (604) 315-4400, www.geyserbrands.com, [email protected]
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