Mr. BEAN-Cse Closes First Tranche of Oversubscribed Non-Brokered PP and Announces Increase in Offering Size
June 4th 2019 - NR
Peekaboo Beans announces the Company has decided to increase the size of its previously announced non-brokered private placement, announced by news release dated May 8, 2019 (the "Private Placement"), from an aggregate of 4,000,000 units issuable at $0.10 (each, a "Unit") for gross proceeds of $400,000, to 10,000,000 units for gross proceeds of $1,000,000. The Company is also pleased to announce that it has closed the first tranche of the Private Placement, pursuant to which it has issued an aggregate of 4,500,000 units at a for gross proceeds of $450,000 (the "First Tranche").
Each Unit is comprised of one common share in the capital of the Company (each, a "Common Share") and one common share purchase warrant in the capital of the Company, with each Warrant being exercisable by the holder thereof into one Common Share of the Company at a price of $0.15 per Common Share until May 31, 2022 (each, a "Warrant").
In consideration for the services of certain eligible finders who introduced subscribers to the Private Placement, the Company paid customary commissions in cash and common share purchase warrants.
All securities issued under the First Tranche, including securities issuable on exercise thereof, are subject to a hold period expiring October 1, 2019.
The Company intends to use the proceeds from the Private Placement for corporate development and general working capital purposes.
About Peekaboo Beans Inc.
Peekaboo Beans is a children's apparel brand with a focus on environmentally responsible clothes that are intentionally designed to inspire play. Through an omni-channel approach, Peekaboo Beans engages sellers through social platforms, including Instagram and Facebook, as well as online retailers, to maximize revenue and build brand loyalty. The Company works to promote a playful lifestyle for children by designing comfortable clothes that are built to last.
On behalf of the Board of Directors,
Peekaboo Beans Inc.
Ms. Traci Costa, President and CEO
(604) 279-2326
For more information, please contact the Company at:
BEAN@kincommunications.com
1-866-604-6730 |
