Tinley Announces Closing of $0.10 Private Placement
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 11/05/15 -- The Tinley Beverage Company Inc. ("Company") is pleased to announce the closing of the first tranche of a brokered private placement (the "Offering"), consisting of 11,705,000 units ("Unit") for aggregate gross proceeds of $1,170,500.
Each Unit is comprised of one (1) common share of the company (a "Common Share") and one half (1/2) Share purchase warrant ("Warrant"). Each whole Warrant entitles the holder thereof to purchase one Common Share at a price of $0.20 per Common Share for a period of 24 months after the Closing Date. The proceeds from the Offering will be used for working capital purposes, establishing new business lines and exploring potential acquisitions.
All securities issued pursuant to the private placement will be subject to a four month hold period under Canadian securities laws.
Foundation Markets Inc., First Republic Capital Corp. and other organizations acted as finders for the Company under the Offering. The Company paid cash finder''s fees to finders equal to $35,775.
Due to indicated demand, the Company intends to close the second and final tranche on Friday, November 14.
"We thank participants in this private placement for their confidence in the company''s new strategy and team. This placement adequately resources the company to launch its initial lineup of products, which include hemp-based functional drinks and shots in a variety of flavors and ingredient profiles," said Jeff Maser, who was appointed CEO on October 30, 2015.
The securities offered will not be registered under the U.S. Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States absent registration or an exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Forward-Looking Statements
This press release contains or refers to forward-looking information, and is based on current expectations that involve a number of business risks and uncertainties. Factors that could cause actual results to differ materially from any forward-looking statement include, but are not limited to, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry. Forward-looking statements are subject to significant risks and uncertainties, and other factors that could cause actual results to differ materially from expected results. Readers should not place undue reliance on forward - looking statements. These forward-looking statements are made as of the date hereof and the
Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by law.
Contacts:
The Tinley Beverage Company Inc.
Jeff Maser
Chief Executive Officer
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Datum: 05.11.2015 - 14:11 Uhr
Sprache: Deutsch
News-ID 1397331
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Mining & Metals
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