CANADA: Clearly Canadian drums up financing
Speciality drinks producer Clearly Canadian has completed a round of financing.
The company said yesterday (18 July) that it had completed a series of private placements for 1.2m common shares in the company and had raised US$3.3m.
"A solid financial foundation is essential to our discussions with top level retailers," said Clearly Canadian president Brent Lokash.
"It is imperative that we have the financial resources to execute on our production and delivery schedules to ensure ample and timely delivery of product to our customers."
Earlier this year, the company announced that it was relaunching the original flavours of its sparkling flavoured water range in response to consumer demand. Original flavours include cherry, blackberry, raspberry and strawberry, while a new zero-calorie variant comes in pink grapefruit and blueberry flavours.
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