Vancouver, BC – Peekaboo Beans Inc (CSE:BEAN | OTCQB:PBBSF) (the “Company” or “Peekaboo Beans“), is pleased to announce that it has oversubscribed its non‐brokered private placement (the “Private Placement”) previously announced on December 14, 2018, pursuant to which it has issued an aggregate of 5,850,000 units at a price of $0.10 per unit (each a “Unit”) for gross proceeds of $585,000. Each Unit was comprised of one (1) common share (each, a “Common Share”) and one (1) common share purchase warrant in the capital of the Company, with each Warrant exercisable into one Common Share at a price of $0.15 per Common Share until December 21, 2021 (each, a “Warrant”).
In connection with the Private Placement the Company issued 340,000 Common Shares and 340,000 Warrants to certain eligible finders who introduced subscribers to the Private Placement.
All securities issued under the Private Placement, including securities issuable on exercise thereof, are subject to a hold period expiring April 22, 2019.
The Company intends to use the proceeds from the Private Placement for corporate development and general working capital purposes.
About Peekaboo Beans Inc.
Peekaboo Beans is a children’s apparel brand with a focus on environmentally responsible clothes that are intentionally designed to inspire play. Through an omni‐channel approach, Peekaboo Beans engages sellers through social platforms, including Instagram and Facebook, as well as online retailers, to maximize revenue and build brand loyalty. The Company works to promote a playful lifestyle for children by designing comfortable clothes that are built to last.
On behalf of the Board of Directors,
Peekaboo Beans Inc.
Ms. Traci Costa, President and CEO
For more information, please contact the Company at:
This news release may include forward‐looking information that is subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward‐looking, including statements with respect to the use of proceeds from the Private Placement. Although the Company believes the expectations expressed in such forward‐looking information are based on reasonable assumptions, such information is not a guarantee of future performance and actual results or developments may differ materially from those contained in forward‐looking information. Factors that could cause actual results to differ materially from those in forward‐looking information include, but are not limited to, fluctuations in market prices, successes of the operations of the Company, continued availability of capital and financing and general economic, market or business conditions. There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward‐looking information except as required under the applicable securities laws.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.