Vancouver, British Columbia--(Newsfile Corp. - July 19, 2021) - CENTR Brands Corp. (CSE: CNTR) (FSE: 303) (OTC: CNTRF) (the "Company") announced today that it has completed a non-brokered private placement financing (the "Financing"). Pursuant to the Financing, the Corporation will issue C$3,081,252.00 of units ("Units") comprised of one common share (a "Common Share") and one common share purchase warrant of the Company (a "Warrant") at an issue price of $1.50 per Unit. Each Warrant will be exercisable to acquire one common share of the Company (a "Warrant Share") at a price of $1.75 per Warrant Share for a period of three years following the date of issue, subject to a redemption timing adjustment in certain events. The Company confirms that founding shareholders and insiders of the Company participated in the Financing, and that another closing of the Financing is expected to result in the issue of further Units on similar terms within the next few weeks.
The net proceeds of the Financing will be used for general working capital purposes. The Company will pay a finder's fee in connection with the sale of certain of the Units to subscribers introduced to the Company by finders. The Financing is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and stock exchange approvals, including the approval of the Canadian Securities Exchange.
About CENTR Brands Corp. CENTR Brands is a functional beverage company that develops and markets non-alcoholic beverages for the global market. The Company's portfolio includes both CENTR, an all-natural, sparkling, low-calorie, hemp-derived CBD beverage, and CENTR Instant, a family of super convenient, single serve, ready-mix CBD drink powders.
CENTR is currently available for sale in 23 U.S. states, with CENTR Instant being available this Fall both online and through our national distribution system.
www.findyourcentr.com
For further information, contact Joseph Meehan at info@centrcorp.com.
On behalf of the Board,
CENTR BRANDS CORP.
/s/ Joseph Meehan
Joseph Meehan, Chief Executive Officer
https://pro.ceo.ca/@newsfile/centr-brands-corp-closes-non-brokered-private-placement