CANADA: Clearly Canadian announces completion of private placement
Each unit is comprised of one common share of the Company and one common share purchase warrant, with each warrant entitling its holder to purchase one additional common share of the Company at a price of Cdn$1.10 for a period of five years. The private placement was originally announced by news release dated October 2, 2000 and at that time the Company indicated a placement of up to 800,000 units, of which 595,000 units were ultimately sold. Directors, officers and other parties related to the Company subscribed for 320,000 of the units, which was the maximum number of units that such non-arms-length parties were permitted to acquire under applicable Toronto Stock Exchange rules and policies. A finder's fee in the amount of Cdn$10,560 has been paid to Pacific International Securities Inc., representing 7.5% of the proceeds from arm's length subscriptions for an aggregate of 160,000 units. The proceeds from the private placement will be used to fund the Company's working capital requirements.
Based in Vancouver, B.C., Clearly Canadian is a leading producer of premium beverages, including Clearly Canadian® sparkling flavoured water, Clearly Canadian O+2® and Tre Limone(TM), which are distributed extensively in the United States, Canada and other countries worldwide. Clearly Canadian also owns CC Beverage (U.S.) Corporation, a Washington State company, which produces and distributes Cascade Clear(TM) and Clearly Canadian® products in the United States and other countries as well as co-packing for other manufacturers' brands. CC Beverage also operates a home/office water delivery business in the U.S. Pacific Northwest. Additional information on Clearly Canadian and CC Beverage may be obtained on the world wide web at www.clearly.ca.
CLEARLY CANADIAN BEVERAGE CORPORATION Bruce E. Morley, Chief Legal OfficerCLEARLY CANADIAN BEVERAGE CORPORATION is the registered holder of the trademark CLEARLY CANADIAN®. CLEARLY CANADIAN BEVERAGE CORPORATION, and its wholly owned subsidiaries, manufacture, distribute and market CLEARLY CANADIAN®, CASCADE CLEAR(TM), CLEARLY CANADIAN O+2®, TRE LIMONE(TM) and other flavoured and unflavoured beverages.
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