Core Viewpoint - Prime Drink Group Corp. has successfully closed a non-brokered private placement, raising gross proceeds of $1,810,276, reflecting strong investor confidence in its long-term growth strategy [1][3]. Financing Details - The Offering involved the sale of 1,811 Units at a price of $999.60 per Unit, resulting in the issuance of 10,648,680 common shares and 7,244,000 transferable share purchase warrants [2]. - Each Warrant allows the holder to purchase one Common Share at a price of $0.25 for a period of two years from the closing date [2]. - The Company paid cash finders' fees totaling $64,174, representing 6% of the proceeds received from subscribers introduced by finders [3]. Use of Proceeds - The net proceeds from the Offering will be used to develop the Company's business and for general working capital purposes [4]. Insider Participation - Company officers Alexandre Côté, Garry Turpin, and Germain Turpin purchased a total of 641 Units for gross proceeds of $640,744, which is classified as a related party transaction [5]. Board Changes - Mr. Jean-Denis Côté has resigned from the Board of Directors to pursue other opportunities, and the Board expressed gratitude for his contributions [6]. Company Overview - Prime Drink Group Corp. is a Québec-based corporation aiming to become a leading diversified holding company in the beverage, influencer media, and hospitality sectors [7].
Prime Drink Group Announces Closing of $1.8 Million Private Placement
Globenewswire·2025-03-26 11:30