VANCOUVER, Jan. 29, 2018 /CNW/ - Peekaboo Beans Inc. ("Peekaboo Beans" or the "Company") (TSXV-BEAN), a direct-sales retailer of children's apparel, is pleased to announce a 108% year over year increase in January month to date sales. A total of 12.35% of sales stemmed from the USA.
Traci Costa, CEO of Peekaboo Beans states "Sales are trending upwards in a big way with the sales in the USA picking up a steady pace. The goal is to replicate this trend month over month and build out and start building out a global strategy."
The company recently announced it has engaged Canaccord Genuity Corp ("Canaccord") and Gravitas Securities inc. (collectively, the "Agents") to act as co-lead agents on a commercially reasonable efforts basis in connection with a private placement for an aggregate gross proceeds of up to $1,500,000 (the "Offering"). The company will issue up to 2,000,000 units of the company (the "Units") at a price of $0.75 per Unit pursuant to the Offering. Each Unit will be comprised of one common share of the Company and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will be exercisable into one common share of the Company at a price of $1.00 for a period of 24 months following the closing of the Offering. Please refer to press release dated January 23, 2018 posted on the Company website: investors.peekaboobeans.com for additional details.
About Peekaboo Beans
Peekaboo Beans Inc. is a high-quality, ethically manufactured children's apparel brand sold exclusively through its direct-sales network of Stylists or independent sales representatives. In line with its mission, Peekaboo Beans develops custom fabrics and designs its apparel to promote play in children's lives. Through the direct-sales model, Peekaboo Beans trains women to be entrepreneurs, build a business and generate income on their own terms. Peekaboo Beans has 14,488,701 Common Shares and 1,963,435, warrants outstanding and is the first and only Canadian public company with a majority female board of directors.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may include forward-looking information that is subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward-looking. Although the Company believes the expectations expressed in such forward-looking information are based on reasonable assumptions, such information is not a guarantee of future performance and actual results or developments may differ materially from those contained in forward-looking information. Factors that could cause actual results to differ materially from those in forward-looking information include, but are not limited to, fluctuations in market prices, successes of the operations of the Company, continued availability of capital and financing and general economic, market or business conditions. There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.
SOURCE Peekaboo Beans Inc.
For further information: Peekaboo Beans Inc., Ms. Traci Costa, CEO and President, +(604) 279-2326, [email protected]; Investor Relations: investors.peekaboobeans.com, 1-855-692-3267, [email protected]