Clearly Canadian has raised more cash for marketing investment after selling a tranche of shares in the company.

The Canadian soft drinks group said yesterday (5 September) that it has sold over 333,000 shares in the company to local investors Pinetree Capital for US$1m.

Clearly Canadian president Brent Lokash said: "This financing will further assist our efforts to market our current and future beverage products and continue to re-establish the brand name Clearly Canadian."

The company is looking to build on its progress in the last six months, which has seen it clear its debts and revamp 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.