SPoT Coffee Closes Financing
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 11/25/11 -- SPOT COFFEE (CANADA) LTD. (TSX VENTURE: SPP) ("SPoT" or the "Company") is pleased to announce that it has closed its previously announced private placement for total proceeds of $500,000 at a price of $0.15 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 $0.20 for a period of two years from closing. The Common Shares and Warrants issued in connection with the private placement are subject to a statutory four-month hold period in accordance with applicable securities laws, which will expire on March 26, 2012.
The financing was completed by SPoT on a non-brokered basis and has been subscribed to by a small group of long term and strategic investors who will directly assist the Company with its future growth plans. These investors represent individuals and institutions who will provide SPoT with direct support to execute on its growth strategy including growth through new locations, both in North America and in the Middle East, as well as be available to assist SPoT with future corporate finance initiatives. In accordance with the requirements of the TSX Venture Exchange, the Company reserved pricing for this transaction over the course of mid-October at which time the final subscribers to this transaction were circled. A finders fee was paid with respect to one subscriber in the amount of $420 and 2,800 broker warrants were issued. The broker warrants have a strike price of $0.15 per share and are exercisable for a period of two years.
SPoT recently announced the opening of its seventh operating cafe on November 11th, SPoT Hertel, in Western New York, and will begin construction on cafes eight and nine during January 2012. SPoT continues to be focused on its target of a minimum of three to four new operating cafes in 2012 and is actively identifying new locations in its targeted areas.
ABOUT SPOT
SPoT () designs, builds and operates community-oriented cafes that provide its customers from every lifestyle and culture with the highest quality service, signature light meals and in-house roasted gourmet coffee. The current SPoT management team and directors have been successfully operating company-owned cafes since 2004.
Each SPoT cafe is a popular and friendly gathering place for its community where specialty coffee, upscale beverages, fresh baked goods, signature sandwiches, soups, salads and gourmet pizza, cakes, pastries and home baked goods are offered and enjoyed by its patrons in a warm, friendly and home-like environment.
The Company currently operates seven cafes that range in size from 2,000 to in excess of 4,000 sq. ft. with two more cafes currently under development. SPoT is currently evaluating several locations as part of its North American expansion.
Unlike other conventional gourmet coffee houses and quick service restaurants that are built on uniformity of product and style, each SPoT cafe maintains several unique and key features, including:
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 (Canada) Ltd.
Lindsay Cross
Investor Relations Manager
(416) 368-2220
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 25.11.2011 - 21:00 Uhr
Sprache: Deutsch
News-ID 91191
Anzahl Zeichen: 0
contact information:
Town:
TORONTO, ONTARIO
Kategorie:
Beverages
Diese Pressemitteilung wurde bisher 200 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"SPoT Coffee Closes Financing"
steht unter der journalistisch-redaktionellen Verantwortung von
SPoT Coffee (Canada) Ltd. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
