TORONTO, June 10, 2019 /CNW/ - Hill Street Beverage
Company Inc. ("Hill Street" or "Company")
(TSX-V: BEER) is pleased to announce that it has closed the first
tranche of a $5 million non-brokered
private placement that was announced May 28,
2019.
The Company has issued a total of 8,483,308 units
("Units") at a price of $0.20
per Unit for aggregate gross proceeds of $1,696,661.51.
Each Unit is comprised of one (1) Hill Street Common Share and
one-half of one (1/2) warrant (each whole warrant a
"Warrant"), with each Warrant entitling the holder thereof
to acquire one (1) Hill Street Common Share at a price of
$0.40 per share for a period of two
(2) years from the date of Closing.
All the securities will be subject to a four-month hold period
from the date of closing. Hill Street intends to use the net
proceeds for funding day-to-day operations and general working
capital purposes.
In connection with the closing, the Company paid finders fees to
James Eric Salter, in the amount of
$37,450 together with 187,250 finder
warrants, with each finder warrant entitling the holder to acquire
1 common share in the capital of the Company at a purchase price of
$0.20 per share for a period of two
years from the date of issuance.
About Hill Street Beverage Company Inc.
(TSX-V:BEER)
Hill Street Beverage Company is the
world's most award-winning company exclusively focused on
alcohol-free beer, wine, and adult-format beverages. Hill Street's
great-tasting products include Hill Street Craft Brewed Lager,
Designated Draft alcohol-free beer, Vin(Zero) wines, and Vintense
wines, and have won numerous medals and accolades including three
Gold, two Silver, and two Bronze Medals at the U.S. Open Beer
Championships, the Retail Council of Canada's Grand Prix
award, and a prestigious Double Gold Medal at the San Francisco
International Wine Challenge. Hill Street will also produce and
sell cannabis-infused adult beverages as soon as the sale of
cannabis edibles becomes legal in Canada, expected to occur
by October 17, 2019. Check out Hill Street's award-winning
line-up and order product to be delivered straight to your home
at www.hillstreetbeverages.com.
Follow Hill Street on Facebook
(http://facebook.com/hillstreetbevco), Instagram
(https://www.instagram.com/hillstreetbevco/), and Twitter
(https://twitter.com/hillstreetbevco).
FORWARD-LOOKING STATEMENTS
Statements in this press
release may contain forward-looking information. Any
statements in this press release that are not statements of
historical fact may be deemed to be forward-looking statements.
Forward-looking statements are often identified by terms such as
"may", "should", "anticipate", "expects" and similar
expressions. The reader is cautioned that assumptions used in
the preparation of any forward-looking information may prove to be
incorrect. Events or circumstances, such as future availability of
capital on favourable terms, may cause actual results to differ
materially from those predicted, as a result of numerous known and
unknown risks, uncertainties, and other factors, many of which are
beyond the control of the Company. The reader is cautioned
not to place undue reliance on any forward-looking
information. Such information, although considered reasonable
by management at the time of preparation, may prove to be incorrect
and actual results may differ materially from those
anticipated. Forward-looking statements contained in this
press release are expressly qualified by this cautionary
statement. The forward-looking statements contained in this
press release are made as of the date of this press release. The
Company does not undertake any obligation to update publicly or to
revise any of the included forward-looking statements, whether as a
result of new information, future events or otherwise, except as
required by securities law.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
SOURCE Hill Street Beverage Co.
