Clearly Canadian Closes $3.5 Million Financing
Clearly Canadian Beverage Corporation announced recently that it has closed a series of recently announced non-brokered private placements for a total sale of 1,166,333 common shares of the Company with an aggregate purchase price of $3,499,000.00.
Stated Brent Lokash, President of Clearly Canadian, "This capital investment demonstrates the confidence our investors have in the Company, its product lines and in the path we are taking. These funds will augment our in house initiatives, with the purpose of creating, marketing and delivering our new and forthcoming lines of "better for you" products. Additionally our $7.5 million in cash reserves will serve to greatly strengthen our ongoing efforts, as we continue to seek strategic acquisitions and open new distribution channels and opportunities for our expanding product offerings."
In connection with the Financing, the Company is issuing, to the subscribers, warrants, which vest immediately and expire in two years, to purchase 333,334 common shares at a purchase price of US $3.25 per share. The Company is also paying finders' fees by issuing warrants, vesting immediately and expiring in two years, to purchase 23,333 common shares at a purchase price of US $3.25 per share and paying cash of US $69,930.00.
The company further announced that the Cash Position now is over $7.5 Million and will augment marketing and new product development initiatives.
Clearly Canadian Beverage Corporation markets premium alternative beverages, including Clearly Canadian� sparkling flavored waters and Clearly Canadian dailyEnergy, dailyVitamin and dailyHydration Natural Enhanced Waters. These beverages are distributed in the United States, Canada and various other countries. Since its inception, the Clearly Canadian brand has sold over 2 billion bottles worldwide. Clearly Canadian's recent acquisition of DMR Food Corporation marks the Company's debut into organic and natural products with a wide range of dried fruit and nut snacks offerings from Sundridge Farms, Naturalife, Sweet Selections, Simply by Nature and Glengrove Organics brands.
For more information, please visit www.clearly.ca