Geyser Brands Announces $400,000 Private Placement Funding
Geyser Brands announces a $400,000 private placement financing at $0.65 per Unit to fund the continuing development of its growth initiatives
April 18, 2019 – Vancouver, B.C. – Geyser Brands Inc. (TSXV:GYSR) (“Geyser Brands” or the “Company”) is pleased to announce its intention to carry out a non-brokered private placement (the “Offering”) of up to 615,385 units (the “Units”) at a price of CDN$0.65 per Unit for gross proceeds of up to CDN $400,000.25. Each Unit consists of one common share in the capital of the Company (a “Share”) and one common share purchase warrant (a “Warrant”). Each Warrant will be exercisable into one Share at an exercise price of CDN $0.85 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 fund the continuing development of the Company’s operational and international growth initiatives. No finder’s 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, CEO 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
Geyser Brands Inc builds health-based hemp CBD consumer products in the Nutraceutical, Cosmetics, Food & Beverage and Pet sectors world-wide. R&D investment in NanoFusion - a proprietary all-natural nanotechnology - delivers topical creams, beverages, baked goods, oil, and tincture formulations with superior bio-availability and water-solubility. Geyser Brands is a Health Canada approved Licensed Producer in Port Coquitlam B.C.
On Behalf of the Board of Directors
Director and CEO