Soft drinks player Clearly Canadian Beverage Corporation has announced a proposed private placement of up to 1.5m shares in the capital stock of the Company at a price of C$0.25 per common share, for gross proceeds of C$375,000.

The company anticipates that the majority of the private placement shares will be subscribed for by directors and officers of Clearly Canadian.

The private placement shares will be subject to a required four-month hold period. No discounts or warrants will be offered or issued in connection with the private placement.

Proceeds of the proposed private placement will be used primarily to fund the Company's current inventory production requirements.