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Microcap & Penny Stocks : 2016 Kitchen Cookoff , Sizzling Stocks of the Year Contest

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From: downandout	8/11/2016 1:38:04 PM
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Global Gardens closes $5.13-million private placement 2016-08-05 06:13 PT - News Release Mr. Rob Harrison reports GLOBAL GARDENS GROUP CLOSES C$5.1 MILLION PRIVATE PLACEMENT Global Gardens Group Inc. has closed a non-brokered private placement of 51.32 million units at 10 cents per unit for gross proceeds of $5,132,000. Each unit consists of one common share and one-half of one common share purchase warrant exercisable at 25 cents per share until Aug. 4, 2018, provided that, if the closing price of the company's shares on any stock exchange or quotation system on which the shares are then listed or quoted is equal to or greater than 30 cents for a period of 10 consecutive trading days, the company will have the right to accelerate the expiry of the warrants by giving notice to the holders of the warrants that the warrants will expire at 4:30 p.m. (Vancouver time) on a date that is not less than 10 business days from the date notice is given. In connection with the private placement, the company paid cash finders' fees to certain finders in the amount of 10 per cent of gross proceeds raised. The company intends to use the proceeds of the private placement to market and sell the Veggemo shelf-stable product line in the United States, to add the refrigerated product line in Canada and for general working capital purposes. "We are thrilled to drive growth further by moving forward with the second phase of our launch rollout plans," states Rob Harrison, president and chief executive officer of Global Gardens Group. Mr. Harrison continues: "In a short time period, Veggemo has connected with the health and wellness consumer in Canada. Customer feedback from U.S. trade shows has been fantastic; thus, the potential for Veggemo is substantial as dairy consumers continue to look for healthy milk alternatives."

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