Spot Coffee Announces Proposed Financing
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 09/28/12 -- SPOT COFFEE (CANADA) LTD. (TSX VENTURE: SPP) ("SPoT" or the "Company") is pleased to announce a proposed private placement of up to 5,555,555 units ("Units") at a price of $0.18 per Unit for aggregate gross proceeds of up to $1,000,000. 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 will entitle the holder to acquire one additional Common Share at a price of $0.25 for a period of 3 years from closing.
The proceeds from this offering will be used to fund the Company's aggressive expansion plan involving the development of corporate cafes in Southern Ontario and Western New York. SPoT Coffee's ninth cafe, Park Place, is near completion and preparing to open for the community during October. SPoT Coffee Saratoga Springs in Upstate New York has commenced the build-out and the Company anticipates this location to open for the community in the fourth quarter of this year, bringing the total number of operating cafes to ten by the end of 2012. SPoT Coffee reiterates its intention to open its eleventh and twelfth cafes, Glens Falls and Coral Gables, during the first quarter of 2013 and continues to identify new locations for future cafes. SPoT Coffee's 2013 growth plans include a minimum of eight new corporate cafes, additional licensed locations in Florida and a focus on the wholesale and retail distribution of the Company's award winning gourmet roasted coffee beans.
Hold periods will apply to the securities issued under this offering in accordance with applicable securities laws. This offering is subject to the approval of the TSX Venture Exchange and other customary conditions.
ABOUT SPOT COFFEE
SPoT Coffee trades on the TSX Venture Exchange under the symbol SPP. SPoT designs, builds and operates community oriented cafes that provides its customers with the highest quality service, signature made-to order meals and the world's finest in-house roasted gourmet coffee. Each SPoT cafe is distinctively designed to meet the uniqueness of the local neighborhood, creating a warm and friendly gathering place for the community. SPoT's commercial business focuses on retail stores, business accounts and third party resellers such as universities and hospitals.
Forward Looking Statements
Except for statements of historical fact relating to the Corporation, certain information contained herein constitutes forward-looking statements. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. Except as required by applicable securities requirements, the Corporation undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the release.
Contacts:
SPoT Coffee
David Freeman
Corporate Development & Shareholder Communications
(416) 368-2220
SPoT Coffee
Alex Gress
Director
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Datum: 28.09.2012 - 15:09 Uhr
Sprache: Deutsch
News-ID 1155602
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Kategorie:
Beverages
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