Business
Diamond Estates Announces Increase to Previously Announced Private Placement Offering
Diamond Estates Announces Increase to Previously Announced Private Placement Offering ...
About this update from Diamond Estates Wines & Spirits, Inc.
[{"type":"text","content":"\n\n\n\nDiamond Estates Announces Increase to Previously Announced Private Placement Offering\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\nDiamond Estates Announces Increase to Previously Announced Private Placement Offering\nCanada NewsWire\nNIAGARA-ON-THE-LAKE, ON, Dec. 5, 2016\n\n\n\n NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES\n\n\n\nNIAGARA-ON-THE-LAKE, ON, Dec. 5, 2016 /CNW/ - Diamond Estates Wines & Spirits Inc. (the \"Company\" or \"Diamond Estates\") (TSXV: DWS) announced today that as a result of the positive investor response for its previously announced private placement offering of up to 22,727,300 common shares (\"Common Shares\") of the Company at a purchase price of $0.22 per Common Share, it has agreed to increase the size of the offering from up to $5.0 million to up to $8.0 million or 36,363,636 Common Shares.  In addition, the Company has granted to Paradigm Capital Inc. (\"Paradigm\") and GMP Securities L.P. (\"GMP\"), as joint agents, an option, exercisable any time prior to the closing of the offering, to arrange for the purchase of up to an additional 10% of the number of Shares.  If the agents' option is exercised in full, the aggregate gross proceeds of the offering will be $8.8 million or 40,000,000 Common Shares.\n\nThe size of the offering was increased by agreement between Diamond Estates, Paradigm and GMP.  There are no other changes to the previously announced financing and the upsized portion will be offered on the same terms as the previously announced offering of Shares.\n\nThis news release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements.\n\nAbout Diamond Estates Wines & Spirits Inc.\n\nDiamond Estates Wine...