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Premium Brands Announces Closing of Private Placement
Premium Brands Announces Closing of Private Placement Canada NewsWire VANCOUVER,...
About this update from Premium Brands Holdings Corporation
[{"type":"text","content":"\n\n\n\nPremium Brands Announces Closing of Private Placement\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\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, May 23, 2019\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./\n VANCOUVER, May 23, 2019 /CNW/ - Premium Brands Holdings Corporation (\"Premium Brands\" or the \"Company\") (TSX:PBH) is pleased to announce that further to its news release dated May 21, 2019, it has completed its previously announced private placement (the \"Private Placement\") to certain shareholders of the Company (the \"Investors\").\nPremium Brands issued an aggregate of 788,000 common shares from treasury to the Investors at a price of $76.02 per share for aggregate gross proceeds of approximately $60 million.  The issue price is based on a 1.5% discount to the five-day volume-weighted average trading price of the Company's common shares as of the close of trading on May 17, 2019.\nAll common shares issued pursuant to the Private Placement are subject to a four month and one day statutory hold period.\nPremium Brands intends to use the proceeds of the Private Placement to repay debt, finance organic and acquisition growth opportunities and for general corporate purposes.\nAbout Premium Brands Holdings Corporation\nPremium Brands Holdings Corporation owns a broad range of leading specialty food manufacturing and differentiated food distribution businesses with operations across Canada and the United States. For further information, please contact George Paleologou, President and CEO or Will Kalutycz, CFO at (604) 656-3100.\nwww.premiumbrandsholdings.com\nForward-Looking Statements\nThis press release contains forward-looking statements with respect to the Company's intended use of proceeds of the Private Placement. \nAlthough management believes that the expectations reflected in such forward-looking statements are reasonable and represent the Company's internal expectations and belief as of the date hereof, such statements involve unknown risks and uncertainties beyond the Company's control which may cause its ac...