Clearly Canadian Beverage Company said yesterday (3 March) that it had entered into a letter of intent with BG Capital for an additional funding facility.

The additional funding follows the news last month that the Canadian soft drinks groups had completed a US$1m short-term financing facility with BG Capital.

The additional funding is subject to Clearly Canadian and BG Capital concluding definitive agreements, and thereafter, obtaining any necessary regulatory and shareholder approvals.

The company said it will issue further details once definitive agreements with BG Capital have been concluded.