Geyser Brands Inc. Announces $522,000 Private Placement
VANCOUVER, April 15, 2020 /CNW/ - Geyser Brands Inc. (TSX-V: GYSR) ("Geyser Brands" or the "Company") is pleased to announce that it has closed a non-brokered private placement in which the Company raised gross proceeds of $522,000 (the "Offering"). In connection with the Offering, the Company issued 8,030,769 common shares at a price of C$0.065 per common share.
The finder's fee of 481,846 common shares of the company is payable to each Yan Ming Li and Xin Wei Chen. Pursuant to applicable securities laws, all common shares issued in connection with this offering are subject to a four month hold period expiring August 15, 2020.
The Company intends to use the proceeds of the Offering for general working capital purposes to fund the continued development of the Company's operations and international growth initiatives. The Offering remains subject to final regulatory approval.
About Geyser Brands
Geyser Brands Inc. develops consumer product brands in the health and wellness sector that use hemp and CBD as a value-added ingredient. These involve next-generation formulas that focus on the mix of cannabinoids for specific conditions such as insomnia, anxiety and pain. Proprietary delivery technologies include all natural nano-technology, slow-release mechanisms and non-molecule degrading baking processes. In anticipation of coming edibles legislation, and with its Health Canada approved Licensed Production Facility, Geyser Brands has 15,000 square feet in two GMP facilities in Vancouver, BC.
For more information, visit Geyser Brands' website at www.geyserbrands.com.
On Behalf of the Board of Directors
"Andreas Thatcher"
____________________________________
Andreas Thatcher
Director and CEO
[email protected]
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This news release contains forward‐looking statements and forward‐looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward‐looking statements or information. Forward‐looking statements and information are often, but not always, identified by the use of words such as "appear", "seek", "anticipate", "plan", "continue", "estimate", "approximate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe", "would" and similar expressions.
Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward‐looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the risks associated with the marijuana industry in general such as operational risks in growing; competition; incorrect assessment of the value and potential benefits of various transactions; ability to access sufficient capital from internal and external sources; failure to obtain required regulatory and other approvals and changes in legislation, including but not limited to tax laws and government regulations. Accordingly, readers should not place undue reliance on the forward‐looking statements, timelines and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information relating to Geyser is available at www.sedar.com.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
SOURCE Geyser Brands Inc.
#330 - 321 Water Street, Vancouver, B.C. V6B 1B8, www.geyserbrands.com | [email protected]
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