Flow Beverage Corp. Completes Additional Private Placement
Flow Beverage Corp. (TSX:FLOW; OTCQX:FLWBF) (“Flow” or the “Company”) today announced it has completed the previously announced additional non-brokered private placement of 5,577,000 subordinate voting shares (“SV Shares”) at a price of $0.28 per SV Share to RI Flow LLC (the “Investor”) for gross proceeds of $1,561,560 (the “Additional Offering”), following the initial closing on January 30, 2024 of the non-brokered private placement of 6,473,000 SV Shares at a price of $0.28 per SV Share to the Investor for gross proceeds of $1,812,440 (the “Initial Offering”).
- Flow Beverage Corp. (TSX:FLOW; OTCQX:FLWBF) (“Flow” or the “Company”) today announced it has completed the previously announced additional non-brokered private placement of 5,577,000 subordinate voting shares (“SV Shares”) at a price of $0.28 per SV Share to RI Flow LLC (the “Investor”) for gross proceeds of $1,561,560 (the “Additional Offering”), following the initial closing on January 30, 2024 of the non-brokered private placement of 6,473,000 SV Shares at a price of $0.28 per SV Share to the Investor for gross proceeds of $1,812,440 (the “Initial Offering”).
- The Investor is affiliated with NFS Leasing Canada Ltd., a lender to Flow, and its founder Clifford L. Rucker.
- The total proceeds raised from the Initial Offering and the Additional Offering are $3,374,000.
- The gross proceeds from the Additional Offering will be used by the Company for working capital and general corporate purposes.