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| Home : Russell Breweries Inc. Announces Non-Brokered Private Placement for Gross Proceeds of Up to $1,000,000 |
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Mar 18
2013 |
Russell Breweries Inc. Announces Non-Brokered Private Placement for Gross Proceeds of Up to $1,000,000 |
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VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 18, 2013) - Russell Breweries Inc. (TSX VENTURE:RB) (the "Company") is pleased to announce that it has arranged a non-brokered private placement, on a best efforts basis, for up to 20,000,000 units (the "Units") at a price of $0.05 per Unit, to raise gross proceeds of up to $1,000,000.00. Each Unit will consist of one common share ("Common Share") in the capital of the Company and one non-transferable share purchase warrant ("Warrant"). Each Warrant will entitle the holder to purchase one additional Common Share at a price of $0.10 for a period of two years from closing the private placement (the "Private Placement") of Units. The term of the Warrants is subject to an acceleration right at the option of the Company, provided that the daily volume-weighted average trading price of the Common Shares is $0.15 or higher for at least 10 consecutive trading days and the Company has provided Warrant holders with 30 days prior written notice of the accelerated exercise date. |
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| Source:http://www.marketwire.com/mw/release.do?id=1768906&sourceType=3 |
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