News Column

SPoT Coffee Announces and Closes Second and Final Tranche of Private Placement

Aug 29 2013 12:00AM

Marketwire

LogoTracker

TORONTO, ONTARIO -- (Marketwired) -- 08/29/13 -- SPOT COFFEE (CANADA) LTD. (TSX VENTURE: SPP) ("SPoT" or the "Company") is pleased to announce that it has closed its non-brokered private placement for total proceeds of $475,000 at a price of $0.12 per unit (each an "Equity Unity"). Each Equity Unit consists of one common share of SPoT (a "Common Share") and one half of one common share purchase warrant (a "Warrant"). Each whole Warrant entitles the holder to acquire one additional Common Share at a price of $0.20 for a period of three years from closing. All of the Common Shares and warrants issued in connection with this financing are subject to a statutory four-month hold period in accordance with applicable securities laws, which will expire on December 30, 2013.

Leading the equity financing is Mrs. Nashwa Taher, President and owner of Al Taher Group (www.altaher.com), a leading Saudi Arabian corporation in the food and beverage distribution industry. Mrs. Taher, through her personal conglomerate of companies, pioneered Saudi Arabia's premier specialty foods distribution business with an emphasis on high quality Italian foods without preservatives, and currently operates as one of the country's most progressive restaurateurs and food service providers. In addition to the food and restaurant industries, Mrs. Taher is Chairman of the Board at a large real estate company, Al-Hassaniyah Establishment, and is the first woman elected to the City of Jeddah's Chamber of Commerce and Industry.

Mrs. Taher has expressed an interest in working closely with SPoT in the near future to join in the development of the wholesale and retail coffee distribution in the MENA region. Both parties agree that SPoT's award winning gourmet roasted coffee would be a great addition to Mrs. Taher's world class operation, which currently specializes in the distribution of high quality lines of beverage products, including Coca Cola. The Company will report further details as negotiations progress, regulatory approvals are obtained and agreements are signed.

About SPoT Coffee

SPoT Coffee trades on the TSX Venture Exchange under the symbol SPP. SPoT designs, builds and operates community oriented cafes that provide its customers with the highest quality service, signature made-to order meals, and the world's finest in-house roasted gourmet coffee. Each SPoT cafe is distinctively designed to complement the unique attributes of the local neighborhood; creating a warm and friendly gathering place for the community. SPoT's commercial business focuses on retail stores, business accounts and third party resellers.

Forward-Looking Statements

Except for statements of historical fact relating to the Corporation, certain information contained herein constitutes forward-looking statements. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. Except as required by applicable securities requirements, the Corporation undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the release.



Contacts:
SPoT Coffee (Canada) Ltd.
Michael Lorenzo
Shareholder Communications
(416) 368-2220
mlorenzo@spotcoffee.com

SPoT Coffee (Canada) Ltd.
David Freeman
Corporate Development
(416) 368-2220
dfreeman@spotcoffee.com

SPoT Coffee (Canada) Ltd.
Anton Ayoub
CEO
(416) 368-2220
saayoub@spotcoffee.com





Source: Marketwire


Story Tools