DAVIDsTEA Closes $3.0 Million Private Placement

Executive Summary

• DAVIDsTEA Inc. closed a $3 million private placement of units, issuing 3,333,334 units at $0.90 each.
• Proceeds are earmarked for opening new stores across Canada and to support working‑capital needs.
• Each unit includes one common share and half of a warrant; full warrants allow purchase of additional shares at $1.25 (first year) or $1.50 thereafter, with specific expiration conditions tied to the TSX Venture Exchange price.

Key Details

• Units Issued: 3,333,334 units at $0.90 per unit → total gross proceeds of $3 million.
• Unit Composition: 1 common share + ½ common share purchase warrant (full warrant = right to buy 1 additional share).
• Warrant Terms:
• Purchase price $1.25 for one year from closing, then $1.50 thereafter.
• Warrants may expire if, after four months + 1 day post‑closing, the TSX Venture Exchange closing price ≥ $2.00 for at least 20 consecutive trading days; expiration occurs 30 days after company notice.
• Fees: No commissions or other fees were paid in connection with the placement.
• Resale Restrictions: Shares and warrants are subject to a four‑month lock‑up ending March 20, 2026.
• Use of Proceeds: Funding new store openings across Canada and general working capital.

Notable Quotes

(No executive quotes were included in the release.)