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| Home : SPoT Coffee Announces Ongoing Private Placement |
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Nov 17
2015 |
SPoT Coffee Announces Ongoing Private Placement |
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TORONTO, ONTARIO--(Marketwired - Nov. 16, 2015) - SPOT COFFEE (CANADA) LTD. (TSX VENTURE:SPP) ("SPoT" or the "Company") announces that its previously announced non-brokered private placement offering of up to 42,500,000 units (each a "Unit") at a price of C$0.05 per Unit for aggregate gross proceeds of up to C$2,125,000 is ongoing. Each Unit will consist of one common share of SPoT (a "Common Share") and one-half of one common share purchase warrant (a "Warrant"). Each whole Warrant issued under this equity financing will entitle the holder to acquire one additional Common Share at a price of $0.075 for a period of 4 years from the closing date. All of the Common Shares and Warrants issued in connection with this financing will be subject to a statutory four-month hold period in accordance with applicable securities laws. The TSX Venture Exchange has conditionally approved this private placement. Closing of this private placement is expected to occur in one or more tranches. To date, the Company has received signed subscription agreements from investors for an aggregate of 18,000,000 Units at a total subscription price of C$900,000. |
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| Source:http://www.marketwired.com/mw/release.do?id=2074181&sourceType=3 |
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