CANADA: Financing complete, appointment made at CC

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Clearly Canadian Beverage Corporation has completed the final portion of its US$5.7m financing. The company has also appointed a new chief financial officer.

"I am pleased to report that the key elements to our restructuring and refinancing are now complete," said Clearly Canadian's president and CEO Douglas L. Mason. "Having raised in excess of US$5.7m in equity financing, the company believes that it has established a firm foundation to support its current operations and future growth, and the addition of Matt Hoogendoorn to the Clearly Canadian team will be a great benefit to the company as we move forward.

"We are extremely pleased that (lender) BG Capital has recognised the depth and value of Clearly Canadian's commitment to broadening distribution and availability of brand Clearly Canadian and to exploring profitable alternatives to further utilise the Clearly Canadian brand name. BG Capital shares our vision and supports our plans for growth," said Mason.

Sectors: Soft drinks

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