- Hill Street Beverage Company (HILL) has closed a non-brokered private placement for gross proceeds of $700,000
- The company issued 17,500,000 units at $0.04 per unit
- Net proceeds will be used to fund marketing, sales and growth initiatives for the DehydraTECH licensing and alcohol-free beverage business lines
- Hill Street Beverage Company is a progressive non-alcoholic beverage and cannabis solutions company
- Hill Street Beverage Company Inc. (BEER) opened trading at C$0.02
Hill Street Beverage Company (HILL) has closed its previously announced non-brokered private placement for gross proceeds of $700,000.
The company has issued 17,500,000 units at a price of $0.04 per unit. Each unit consists of one common share and one common share purchase warrant. Each warrant is exercisable to acquire one additional common share for a period of 24 months following the closing date of the offering.
Warrants are subject to an acceleration clause.
CEO Craig Binkley commented on the financing.
“We are pleased to have both new and existing investors participate in this financing, which allows the company to further our important growth initiatives on both the company’s alcohol-free beverage and DehydraTECH licensing businesses. I am encouraged that insiders represent over 30 per cent of the placement, demonstrating our insiders’ continued commitment to advancing Hill Street as a progressive global bioscience implementation company.”
Net proceeds will be used to fund marketing, sales and growth initiatives for the DehydraTECH licensing and alcohol-free beverage business lines.
Company insiders subscribed for approximately $232,000 worth of units, representing 32 per cent of the Offering.
All securities issued are subject to a statutory four-month hold period.
Hill Street Beverage Company is a progressive non-alcoholic beverage and cannabis solutions company.
Hill Street Beverage Company Inc. (BEER) opened trading at C$0.02.