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| Home : SPoT Coffee Obtains Commitments for $750,000 in Equity Financing |
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Jun 21
2016 |
SPoT Coffee Obtains Commitments for $750,000 in Equity Financing |
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TORONTO, ONTARIO--(Marketwired - June 20, 2016) - SPOT COFFEE (CANADA) LTD. (TSX VENTURE:SPP) ("SPoT" or the "Company") is pleased to announce that the Company has obtained commitments for a private placement financing (the "Private Placement") of units (each an "Equity Unit"), which will result in total proceeds of $750,000. Investors under the equity financing will be issued 15,000,000 Equity Units at a price of $0.05 per Equity Unit, with each Equity Unit consisting of one common share of SPoT (a "Common Share") and one-half of one common share purchase warrant. Each whole warrant issued from the 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 closing. All of the Common Shares and warrants issued in connection with this financing are subject to a statutory four-month hold period in accordance with applicable securities laws. The Private Placement is subject to the approval of the TSX Venture Exchange. |
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| Source:http://www.marketwired.com/mw/release.do?id=2135871&sourceType=3 |
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