Business
Canyon Creek Food Company Ltd. Announces Completion of Debt Settlement and Partial Closing of Private Placement
Canyon Creek Food Company Ltd. Announces Completion of Debt Settlement and Partial Closing of Private Placement.
About this update from Canyon Creek Food Company Ltd.
[{"type":"text","content":"\n\n\n\n\nTSXV Symbol: CYF\n\nTORONTO, June 7 /CNW/ - Canyon Creek Food Company Ltd. (\"Canyon Creek\"),\nlisted on the TSX Venture Exchange Inc. under the trading symbol \"CYF\", is\npleased to announce the closing of the previously announced settlement of\n$3,150,000 of debt Chemco Electrical Contractors Ltd. (\"Chemco\") by the\nissuance of 10,500,000 common shares at a price of $0.30 per common share. In\naddition to accepting the shares as settlement for the debt, Chemco has\nforgiven all of the accrued interest on the debt in the approximate amount of\n$900,000.\nCanyon Creek is also pleased to announce that it has completed the first\ntranche of its previously announced non-brokered private placement. The first\ntranche of the placement raised $390,000 through the issuance of 1,300,000\nCommon Shares to directors, officers and control persons of the Corporation.\nAll of the securities issued under the private placement are subject to a four\nmonth hold period. The closing is subject to final approval of the TSX Venture\nExchange.\n\nAbout Canyon Creek\n------------------\n\nCanyon Creek is a food processing company based in Calgary and Edmonton,\nAlberta providing fresh soups and other prepared food products for today's\nhealth conscious consumer. The company provides its fresh food product line to\nboth grocery retailers and a broad range of food service establishments such\nas restaurants and institutions throughout Canada.\n\nThe TSX Venture Exchange has neither approved or disapproved of the\ncontents of this press release.\n\n%SEDAR: 00004242E\n\n\n","length":1619,"tagName":"div"}]