Clearly Canadian Beverage Corporation (OTCBB: CCBEF)
VANCOUVER, B.C.–(BUSINESS WIRE)–July 18, 2006–Clearly Canadian Beverage Corporation (OTCBB:CCBEF – News) announced today that it has completed a series of non-brokered private placements (the “Financing”) for a total sale of 1,205,000 common shares of the Company with an aggregate purchase price of US $3,313,750.
Stated Brent Lokash, President of Clearly Canadian, “This financing is another significant step for the Company as we begin to expand marketing and sales efforts that will continue to re-establish the brand name Clearly Canadian.” Mr. Lokash continued, “A solid financial foundation is essential to our discussions with top level retailers. It is imperative that we have the financial resources to execute on our production and delivery schedules to ensure ample and timely delivery of product to our customers.”
In connection with the Financing, the Company is paying finders’ fees by issuing warrants, vesting immediately and expiring in one year, to purchase 84,000 common shares at a purchase price of US $3.00 per share and paying cash of US $397,650, of which US $138,187.50 is being paid to BG Capital Group Ltd., a controlling shareholder of the Company. BG Capital is entitled to return its portion of the finder’s fee to the Company, within one year, in return for being issued an equivalent amount in common shares based on a price of US $2.75 per share.
About Clearly Canadian
Based in Vancouver, B.C., Clearly Canadian Beverage Corporation markets premium alternative beverages and products, including Clearly Canadian® sparkling flavoured water and Clearly Canadian O+2® oxygen enhanced water beverage which are distributed in the United States, Canada and various other countries. Since its inception, the Clearly Canadian brand has sold over 90 million cases equating to over 2 billion bottles worldwide. Additional information about Clearly Canadian may be obtained at http://www.clearly.ca.
Forward-Looking Statements
Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Words such as “expects”, “intends”, “plans”, “may”, “could”, “should”, “anticipates”, “likely”, “believes”, “estimates”, “potential”, “predicts”, “continue” and words of similar import also identify forward-looking statements. Forward-looking statements are based on current facts and analysis and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management, including, but not limited to, the Company’s belief that new financing into the Company will be beneficial to the Company, including the expansion of the Company’s marketing, sales and production efforts, as the Company executes on its stated strategic initiatives, including the launching of innovative new products and the leveraging of the brand equity of Clearly Canadian. These assumptions are subject to many risks, and actual results may differ materially from those currently anticipated. These risks include, by way of example and not in limitation, general economic conditions, changing beverage consumption trends of consumers, the Company’s ability to generate sufficient cash flows to support general operating activities and capital expansion plans, competition, pricing and availability of raw materials, the Company’s ability to maintain the current and future retail listings for its beverage products and to maintain favorable supply, production and distribution arrangements, laws and regulations and changes thereto that may affect the way the Company’s products are manufactured, distributed and sold and other factors beyond the reasonable control of the Company. Additional information on factors that may affect the business and financial results of the Company can be found in filings of the Company with the U.S. Securities and Exchange Commission and with the British Columbia and Ontario Securities Commissions.
CLEARLY CANADIAN BEVERAGE CORPORATION is the registered holder of various trademarks, including CLEARLY CANADIAN®. CLEARLY CANADIAN BEVERAGE CORPORATION, and its wholly owned subsidiaries, produce, distribute and market CLEARLY CANADIAN® and CANADIAN O+2®.
Contact:
Clearly Canadian Beverage Corporation, Vancouver
Shareholder Relations
Steve Cook, 800-983-0993
E-mail: investor@clearly.ca
or
http://www.clearly.ca
or
Marketing Manager
604-742-5314
Email: smanson@clearly.ca
Source: Clearly Canadian Beverage Corporation
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