Clearly Canadian Beverage has switched auditors.

The Canadian soft drinks group said late last week that it has replaced UHY LDMB Advisors with KPMG Chartered Accountants as its independent registered public accounting firm. The change became effective on 26 October, the company added. No specific reason was given for the change.

"This move represents another important step for Clearly Canadian as we continue to build a solid corporate foundation, and should greatly assist our efforts to increase our exposure to the financial community," said Clearly Canadian's president, Brent Lokash.

Separately, Clearly Canadian gave details of a finder's fee paid in relation to the sale of US$1m worth of shares to Pinetree Capital in September. The fee consists of warrants, which vest immediately and expire in two years, to acquire over 23,000 shares at $3.25 each.

At the same time, Clearly Canadian paid $120,000 in cash, of which $50,000 was paid to BG Capital Group, a controlling shareholder of the company. BG has one year in which to return the cash in return for an equivalent amount in shares, based on a price of $3.00 per share, should it so decide.

The company is looking to build on its progress in the first half of this year, having cleared its debts and revamped a number of key products with notable success.

It plans to launch two new products this autumn and is also looking to boost its presence in the US, a market that already accounts for three-quarters of Clearly Canadian's business.