Prime Drink Group completes $450,000 private placement

Prime Drink Group Corp. (CSE: PRME) completed the first closing of a non-brokered private placement for gross proceeds of $450,000, the company announced.

The Montreal-based company issued 7,500,015 common shares and 7,500,015 warrants. Each warrant allows the holder to purchase one common share at $0.06 per share for three years from the issuance date.

The securities are subject to resale restrictions including a four-month and one-day hold period under Canadian securities laws. The offering requires final approval from the Canadian Securities Exchange and other applicable regulatory approvals.

Prime Drink Group plans to use the net proceeds for business development and general working capital purposes.

The company also granted 3,500,000 stock options to a director and consultant under its stock option plan. The options entitle holders to acquire common shares at $0.06 per share for three years.

Prime Drink Group describes itself as a Quebec-based corporation focused on becoming a diversified holding company in the beverage, influencer media and hospitality sectors.

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