Mr. Christian Bullock reports
PUREBREAD BRANDS INC. ANNOUNCES NON-BROKERED PRIVATE PLACEMENT
Purebread Brands Inc. has arranged a non-brokered private placement offering of up to 10 million units of the company at a price of 15 cents per offered unit for aggregate gross proceeds of up to $1.5-million. Each offered unit will comprise one common share in the capital of the company and one-half of one common share purchase warrant, with each warrant exercisable by the holder to acquire one common share at an exercise price of 30 cents per common share for a period of 24 months from the date of issuance.
The company may pay finders' fees to eligible finders in connection with the offering, subject to compliance with applicable securities laws and the policies of the TSX Venture Exchange.
"This financing allows Purebread to accelerate our expansion into additional high-quality markets," commented Purebread chief executive officer Christian Bullock. "The proceeds will primarily fund new store openings and the working capital required to scale our operations as we execute on a strong pipeline of locations."
The private placement remains subject to receipt of all necessary regulatory approvals, including exchange acceptance. All securities issued in connection with the private placement will be subject to a four-month hold period from the closing date under applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada.
About Purebread Brands Inc.
Purebread Brands is a leader in fast-casual cafe/bakeries in British Columbia, driving retail expansion in vibrant communities across Canada and beyond. Purebread is committed to crafting exceptional food experiences and making a positive impact on the communities it serves.
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