Mining & Metals
Prime Drink Group Raises CA$1.3 Million After First Closing of Private Placement
Prime Drink Group (PRME.CN) raised proceeds of CA$1.3 million following the first closing of its non-brokered private placement offering of units, it said in a statement on Thursday.The Quebec-based company issued about 27-million common shares and about 27-million warrants as part of the offering. Each two-year warrant entitles the holder to buy a share for CA$0.10.The company plans to allocate CA$1 million of proceeds to finalize its agreed settlement with creditors and the release of security, and the balance to general working capital needs, it said.Shares of the company were last seen unchanged at CA$0.07 on the Canadian Securities Exchange.
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