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MISSISSAUGA, ON, Nov. 27, 2014 /CNW/ - The Second Cup Ltd. (TSX:SCU) is pleased to announce that it has closed its previously announced private placement offering with GMP Securities L.P. acting as sole agent. Pursuant to the offering, the company issued a total of 2,927,900 common shares at a price of $2.75 per share, which includes the 15% overallotment option, for gross proceeds of $8,051,725. All securities issued pursuant to the offering are subject to a four (4) month statutory hold commencing from closing.
This news release contains forward-looking statements (within the meaning of applicable securities laws) relating to the business of the company and the environment in which it operates, including specifically the Offering and Second Cup's planned use of proceeds from the Offering. Forward-looking statements are identified by words such as "believe", "anticipate", "expect", "intend", "plan", "will", "may" and other similar expressions. These statements are based on the company's expectations, estimates, forecasts and projections. They are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. These risks and uncertainties are discussed in the company's regulatory filings available on the Company's web site at www.secondcup.com or at www.sedar.com and include the risk that the Offering may not complete as planned or at all. There can be no assurance that forward-looking statements will prove to be accurate as actual outcomes and results may differ materially from those expressed in these forward-looking statements. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, a forward-looking statement speaks only as of the date on which such statement is made. Except as required by law, the company undertakes no obligation to publicly update any such statement or to reflect new information or the occurrence of future events or circumstances.
SOURCE: The Second Cup Ltd.
For further information: Steve Boyack, Chief Financial Officer, (905) 362-1818 or [email protected]