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| Home : SPoT Coffee Closes Follow-On Financing, Continues Corporate Expansion |
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Jun 14
2011 |
SPoT Coffee Closes Follow-On Financing, Continues Corporate Expansion |
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TORONTO, ONTARIO--(Marketwire - June 14, 2011) -SPOT COFFEE (CANADA) LTD. (TSX VENTURE:SPP) ("SPoT" or the "Company") is pleased to announce that it has closed a follow-on equity financing for total proceeds of $500,000. Subsequent to closing a private placement for $1,150,000 during March 2011, incremental investor demand enabled the Company to close an additional tranche of $500,000 on similar terms at a price of $0.10 per unit (each a "Unit"). Each Unit consists of one common share in the capital of SPoT (a "Common Share") and one-half of one common share purchase warrant (a "Warrant"). Each whole Warrant entitles the holder to acquire one additional Common Share at a price of $0.15 for a period of three years from closing. The Common Shares and Warrants issued in connection with this private placement are subject to a statutory four-month hold period in accordance with applicable securities laws. |
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| Source:http://www.marketwire.com/mw/release.do?id=1526277&sourceType=3 |
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