Little Canada Announces the Successful Completion of Financing, including an Over-Allocation Amount Français
TORONTO, Feb. 12, 2020 /CNW/ - Our Home & Miniature Land Inc., dba Little Canada ("Little Canada" or the "Company"), is pleased to announce it has successfully completed the previously announced $12,500,000 preferred share ("Preferred Share") financing (the "Offering"). Due to excess demand, the Company additionally expanded the financing ("Over-Allocation Amount") by $1,500,000, or 12%, which has now been successfully completed. Total Preferred Shares issued equaled 5,600,000 at a price of $2.50 per Preferred Share for gross proceeds of $14,000,000.
"A pivotal point in creating an astonishing experience of Canada was reached by securing the lease at 10 Dundas Street East. In addition, our over-subscribed capital raise was a great success," said Founder and President Jean-Louis Brenninkmeijer. "I am delighted after nine years in the making, we now have everything in place to bring Little Canada to Toronto's many diverse communities, a friendly and welcoming place, accessible to everyone." "I am also honoured to have the support of now over 200 investors, made up of many that followed-on into this round, in addition to over 75 new investors".
"Once Little Canada successfully secured its world-class location, the supportive community surrounding the company, investors small to large, with a heavy focus on families, came forward to help make this business vision a reality" said Bill Tharp, CEO of Tangerine Tango, who led the financing. "Jean-Louis and the wonderful Little Canada team assembled are building out a sound, alternative-investment business that leads with a heart – a truly Canadian, double-bottom line investment scenario".
Use of proceeds includes attraction and facility fit-out and construction, attraction destinations build-out and installation, attraction operations and marketing and working capital to expand the organisation and market the attraction for opening.
About Little Canada
Little Canada, an awe-inspiring new attraction that takes visitors on an immersive journey through Canada in miniature, is set to open in summer 2020 in the heart of downtown Toronto at 10 Dundas East, Yonge-Dundas Square.
To learn more about Little Canada and how you can become part of something small, visit www.little-canada.ca. #beapartofsomethingsmall
To access our Press Kit, click here
SOURCE Little Canada
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