Prime Drink Group launches CA$4M subscription receipt financing

Prime Drink Group Corp. (CSE: PRME) has announced a proposed private placement financing of subscription receipts targeting maximum gross proceeds of CA$4.0 million, with a CA$2.5 million lead order already received from an institutional investor, according to a company statement.

Each subscription receipt will convert into one common share at CA$0.10 and one common share purchase warrant, exercisable at CA$0.11 per share for two years. Proceeds will be held in escrow until the company completes its proposed acquisition of Prime Capital Investments Inc. and a strategic partnership with GefCo, part of Les Entreprises du Groupe Geloso. Net proceeds are intended to fund a portion of the acquisition's cash consideration and general working capital.

The company also closed a second tranche of its non-brokered private placement unit offering, raising CA$200,000 through the issuance of 4,000,000 common shares and 4,000,000 warrants at CA$0.05 per unit. Warrants are exercisable at CA$0.10 per share for two years. Insiders participated in the second closing, purchasing 1,200,000 units for CA$60,000, constituting a related-party transaction under Multilateral Instrument 61-101, though exempt from minority approval requirements. The unit offering deadline has been extended by 30 days on the same terms.

Separately, the company announced that Alexandre Côté resigned from its Board of Directors, effective October 6, 2026.

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