- Hill Street Beverage Company (HILL) has announced a non-brokered private placement for gross proceeds of up to $700,000
- The offering consists of up to 17,500,000 units priced 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 announced a non-brokered private placement for gross proceeds of up to $700,000.
The offering consists of up to 17,500,000 units priced at $0.04 per unit. Each unit will include one common share and one share purchase warrant. Each warrant will be exercisable to acquire one additional common share at $0.05 for a period of 24 months following the closing date of the offering.
Warrants are subject to an acceleration clause.
Net proceeds will be used to fund marketing, sales and growth initiatives for the DehydraTECH licensing and alcohol-free beverage business lines.
The offering is already fully subscribed, and the offering is expected to close on or about December 21, 2022, subject to the final approval of the TSX Venture Exchange.
Company insiders have subscribed for $225,000 worth of units representing 32 per cent of the offering.
All securities issued will be subject to a statutory four-month hold period.
Matthew Jewell, the Company’s Chief Financial Officer, commented on the successful capital raise.
“We are very pleased with the interest we have received in this offering. The fact that we have received subscriptions for $700K in financing at a 100 per cent premium to the last closing price for our stock shows investor and insider confidence in the company’s new management team and transformed growth strategy. With this financing, Hill Street is well-positioned to advance the global growth agendas of its on-trend business lines with a solid balance sheet.”
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.
