Vancouver, B.C. – CENTR Brands Corp. announced that it has completed the third and final tranche of its non-brokered private placement financing (the “Financing”), raising a total of $5,903,280. Over three closings (the first announced July 19, 2021, the second August 9, 2021) the Company issued 3,395,520 units (“Units”) each priced at $1.50, comprising one common share (a “Common Share”) and one common share purchase warrant of the Company (a “Warrant”).
For the third tranche of the Financing, the Corporation will issue C$1,192,002 of Units. Each Warrant will be exercisable to acquire one common share of the Company at a price of $1.75 per Warrant for a period of three years following the date of issue, subject to a redemption timing adjustment in certain events.
“We are thrilled with the tremendous investor interest and enthusiasm in CENTR, and their support for our national growth strategy” said Company CEO Joseph Meehan. “CENTR is already a national leader in the growing CBD beverage space, and we will continue to grow and innovate in this and other product categories”.
The net proceeds of the Financing will be used to meet record production demands, launch the Company’s highly anticipated e-commerce platform, and general working capital needs. The Company will pay a finder’s fee in connection with the sale of certain of the Units to subscribers introduced to the Company by finders. The Financing is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and stock exchange approvals, including the approval of the Canadian Securities Exchange.
About CENTR Brands Corp.
CENTR Brands is a functional beverage company that develops and markets non-alcoholic beverages for the global market. The Company’s portfolio includes both CENTR, an all-natural, sparkling, low-calorie, hemp-derived CBD beverage, and CENTR Instant, a family of super-convenient, single serve, ready-mix CBD drink powders.
CENTR is currently available for sale in 23 U.S. states, with CENTR Instant becoming available this fall both online and through our national distribution system.
For further information, contact Joseph Meehan at firstname.lastname@example.org
For More Information: