Prime Drink Group Announces First Closing of Private Placement and Grant of Stock Options

Executive Summary

• Prime Drink Group Corp. completed the first closing of its non‑brokered private placement, raising $450,000 in gross proceeds.
• The offering consisted of 7,500,015 common shares and an equal number of warrants (each warrant exercisable at $0.06 per share for three years).
• The company also granted 3,500,000 stock options to a director and a consultant at the same $0.06 exercise price, with a three‑year term.

Key Details

• Gross proceeds: $450,000 from the first closing of the Unit Offering.
• Units issued: 7,500,015 common shares + 7,500,015 warrants (1:1 ratio).
• Warrant terms: Exercise price $0.06 per share; exercisable for three years from issuance; subject to a four‑month‑plus‑one‑day hold period.
• Stock option grant: 3,500,000 options granted to a director and a consultant; exercise price $0.06 per share; three‑year term.
• Use of proceeds: To develop the business and for general working capital purposes.
• Regulatory conditions: Units subject to resale restrictions; offering pending final approval by the Canadian Securities Exchange and other applicable regulators.
• No finders’ fee was paid in connection with the placement.

Notable Quotes

(No executive quotes were included in the release.)