08:57:26 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Big Rock Brewery Inc
Symbol BR
Shares Issued 6,068,678
Close 2014-03-19 C$ 18.01
Market Cap C$ 109,296,891
Recent Sedar Documents

Big Rock Brewery increases offering to $11.8-million

2014-03-21 08:04 ET - News Release

Mr. Robert Sartor reports

BIG ROCK BREWERY INC. ANNOUNCES INCREASE TO BOUGHT DEAL FINANCING

Further to its news release of March 20, 2014, Big Rock Brewery Inc. and Cormark Securities Inc. have agreed to increase the size of its previously announced $10-million bought-deal offering. Pursuant to the upsized deal terms, the underwriter has agreed to purchase, on a bought-deal basis, 695,000 common shares from the treasury of the company, at a price of $17.00 per share, for aggregate gross proceeds of approximately $11.8-million.

The company has granted the underwriter an option, exercisable in whole or in part, to purchase up to an additional 104,250 shares from the treasury of the company at the offering price exercisable at any time on or up to 30 days following the closing of the offering for market stabilization purposes and to cover overallotments, if any. In the event that the overallotment option is exercised in its entirety, the aggregate gross proceeds of the offering shall be approximately $13.6-million.

The net proceeds of the offering will be used for construction and associated launch costs of the previously announced brewery and restaurant in British Columbia, further geographical expansion, growth opportunities, and working capital.

Closing of the offering is expected to occur on or about April 10, 2014, and is subject to certain conditions, including, but not limited to, the receipt of all regulatory approvals, including that of the Toronto Stock Exchange.

The shares to be issued under the offering will be offered by way of a short-form prospectus in each of the provinces of Canada, except Quebec, and may be offered in the United States on a private placement basis pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended, and certain other jurisdictions.

We seek Safe Harbor.

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