Source: Hill Street Beverage Company
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  • Hill Street Beverage Company (HILL) has completed a non-brokered private placement for aggregate gross proceeds of $700,000
  • HoldCo (St. Catharines) Ltd. acquired 5,000,000 units, consisting of 5,000,000 common shares, and 5,000,000 warrants, for a total price of $200,000
  • With that, HoldCo now owns 26.29 per cent of the company’s issued and outstanding common shares, and 27.91 per cent of common shares on a partially diluted basis
  • Hill Street Beverage Company Inc. is engaged in supplying alcohol-free drinks.
  • Hill Street Beverage Company Inc. (HILL) was unchanged at $0.02 at 12:24 PM ET

Hill Street Beverage Company (HILL) has completed a non-brokered private placement for aggregate gross proceeds of $700,000.

During the offering, HoldCo (St. Catharines) Ltd. acquired 5,000,000 units, consisting of 5,000,000 common shares and 5,000,000 warrants, for a total purchase price of $200,000.

Before the completion of the offering, HoldCo (together with its joint actors) owned 58,797,855 common shares and 465,733 options to purchase common shares. This represented 26.12 per cent of the issued and outstanding common shares and 26.32 per cent of the issued and outstanding common shares on a partially diluted basis.

With the completion of the offering, HoldCo (together with its joint actors) now owns 63,797,855 common shares, 5,000,000 warrants, and 465,733 options to purchase common shares. This represents 26.29 per cent of the issued and outstanding common shares and 27.91 per cent of common shares on a partially diluted basis.

HoldCo is relying on the exemption set forth in Section 4.2 of National Instrument 62-104 – Take Over Bids and Issuer Bids on the basis that this transaction is a private agreement.

It acquired the common shares and warrants for investment purposes and intends to review its investment in the company on a continuing basis.

HoldCo will file an early warning report under applicable securities laws, which will be available on the company’s SEDAR profile.

Hill Street Beverage Company Inc. is engaged in supplying alcohol-free drinks.

Hill Street Beverage Company Inc. (HILL) was unchanged at $0.02 at 12:24 PM ET.


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