05:48:02 EDT Sat 20 Apr 2024
Enter Symbol
or Name
USA
CA



Geyser Brands Inc
Symbol GYSR
Shares Issued 21,184,950
Close 2019-04-22 C$ 0.79
Market Cap C$ 16,736,111
Recent Sedar Documents

Geyser Brands arranges $400,000 private placement

2019-04-23 14:22 ET - News Release

Mr. Andreas Thatcher reports

GEYSER BRANDS ANNOUNCES $400,000 PRIVATE PLACEMENT FINANCING

Geyser Brands Inc. intends to carry out a non-brokered private placement of up to 615,385 units at a price of 65 cents per unit for gross proceeds of up to $400,000.25. Each unit comprises one common share in the capital of the company and one common share purchase warrant. Each warrant will be exercisable into one share at an exercise price of 85 cents per share for a period of 24 months from issuance of the units. The company now anticipates closing of the offering to occur on or about April 23, 2019. The offering is subject to the approval of the TSX Venture Exchange.

The company intends to use the proceeds of the offering for general working capital purposes to finance the continuing development of the company's operational and international growth initiatives. No finders' fees are payable in respect to the offering.

The offering is eligible to be purchased by subscribers who are accredited investors or who qualify under another exemption from prospectus requirements in the jurisdictions where the offering is sold. Insiders may participate in the offering. The securities issued under the offering, and any shares that may be issuable on the exercise of any such securities, will be subject to a statutory hold period expiring four months and one day from the date of issuance of such securities under applicable Canadian securities laws. Additional resale restrictions and legends may apply to any subscribers outside of Canada.

"Investing in operational capacity expansion is vital to maintaining our brands' existing leadership positions in the global cannabis industry," said Andreas Thatcher, chief executive officer of Geyser Brands. "This financing gives us additional resources so we can maintain our momentum and launch ourselves through the window of opportunity that exists domestically and abroad so we can continue to lead a sector forward into new territory."

About Geyser Brands Inc.

Geyser Brands builds health-based hemp cannabidiol consumer products in the nutraceutical, cosmetics, food and beverage, and pet sectors worldwide. Geyser Brands is a Health Canada-approved licensed producer in Port Coquitlam, B.C.

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