SPoT Coffee (Canada) Ltd V.SPP

Alternate Symbol(s): SCFFF

Consumer Cyclical Restaurants

Spot Coffee (Canada) Ltd. (SPoT) is a Canada-based company, which designs, builds and operates community-oriented cafes. SPoT operates Company-owned cafes in Canada and the United States. The Company has a total of approximately 25 cafes operating, in development or under construction in the states of New York and Connecticut, including seven corporate-owned cafes located in Buffalo, Rochester, Saratoga Springs, Elmwood, Glens Falls, Orchard Park and North Tonawanda, 11 Operating Franchise cafes Kenmore, Hertel, West Hartford, Hamburg, Roswell Park, Clarence, Williamsville, Waterfront Village, Amherst, West Seneca, Niagara Falls and five SPoT Tops cafe locations, two Express cafes operating under license to Chartwells at the Buffalo State College. SPoT's commercial business focuses on the sale of roasted coffee beans to food service and grocery chains, business offices, and resellers such as universities and hospitals.

TSXV:SPP - Post by User

SPoT Coffee (Canada) Ltd

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Post by kevin2m4on Feb 08, 2011 6:23pm

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Post# 18097583

Share warrants

Press Release Source: Spot Coffee (Canada) Ltd. On Tuesday February 8, 2011, 2:14 pm EST

TORONTO, ONTARIO--(Marketwire - Feb. 8, 2011) - SPOT COFFEE (CANADA) LTD. (TSX VENTURE:SPP - News; "SPoT" or the "Company") is pleased to announce a proposed private placement financing for aggregate gross proceeds of up to $1,150,000 of units (each a "Unit") at a price of
.10 per Unit. Each unit will consist of one common share of SPoT (a "Common Share") and one-half of one common share purchase warrant (a "Warrant"). Each whole Warrant will entitle the holder to acquire one additional Common Share at a price of
.15 for a period of 2 years from closing. The net proceeds from this offering will be used to fund the renovation of SPoT's Rochester cafe, including the addition of a more expansive kitchen to incorporate SPoT's gourmet pizza program, to fund two new locations, SPoT Hertel Avenue in Western New York and SPoT Parkplace in Toronto, and meet working capital requirements. This funding will enable SPoT to achieve eight operating cafes including strategic renovations to existing cafes. Hold periods will apply to the securities issued under this offering in accordance with applicable securities laws. This offering is subject to the approval of the TSX Venture Exchange and other customary conditions.

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