| Home : April 2012 : April 21, 2012 News : SPoT Coffee Closes Debenture Financing: Proceeds Fund New Cafes |
SPoT Coffee Closes Debenture Financing: Proceeds Fund New Cafes |
April 21, 2012
TORONTO, ONTARIO--(Marketwire - April 20, 2012) - SPOT COFFEE (CANADA) LTD. (TSX VENTURE:SPP) ("SPoT" or the "Company") is pleased to announce the Company has closed a $250,000 debenture financing with the proceeds available to fund the Company's new café expansion program. The sole investor of the financing is Toronto-based Curvature Fund, participating at a price of $1.00 per unit (each a "Unit") and subscribing for 250,000 total Units. Each Unit consists of a $1.00 par value note (a "Note") and two common share purchase warrants (each a "Warrant"). The Note represents a $250,000 5-year 9% secured subordinated promissory note and each Warrant entitles Curvature Fund to acquire one additional common share of the Company at a price of $0.25 for a period of five years from closing.
http://www.marketwire.com/mw/release.do?id=1646827&sourceType=3
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