Prime Drink Group Reveals Details of Simultaneous Funding for Planned Purchase of Triani Canada and Offers Progress Report on the Deal

Prime Drink Group Corp. (CSE: PRME) has announced the terms of a non-brokered private placement financing, aiming to raise between $5,000,000 and $7,500,000 through the issuance of subscription receipts. This financing is in connection with the company’s acquisition of Triani Canada Inc., a Quebec-based company specializing in the production, bottling, and sale of alcoholic and non-alcoholic beverages.

The private placement will involve the issuance of a minimum of 8,000,000 subscription receipts and a maximum of 12,000,000 subscription receipts at a price of $0.625 per receipt. Each subscription receipt will be converted into one common share in Prime Drink Group Corp. upon satisfaction of certain escrow release conditions.

The company intends to use the net proceeds from the private placement to fund the acquisition of Triani, develop its business, and for working capital purposes. The acquisition of Triani is part of Prime Drink Group’s strategy to become a leading diversified beverage holding company.

The transaction is subject to shareholder approval at a meeting where various matters, including a change of the company’s name, a share consolidation, and the election of directors, will be discussed. The company also plans to execute a definitive agreement with 9296-1086 Québec Inc. within the next two weeks.

Overall, Prime Drink Group Corp.’s private placement and acquisition of Triani represent significant steps in the company’s growth strategy and expansion within the beverage industry. Investors and stakeholders will be closely watching the developments as the company moves forward with its plans.