Big Rock Brewery Inc.
TSX : BR

Big Rock Brewery Inc.

April 10, 2014 08:43 ET

Big Rock Brewery Inc. Announces Closing of $13.6 Million Public Bought Deal Common Share Financing

CALGARY, ALBERTA--(Marketwired - April 10, 2014) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Big Rock Brewery Inc. (TSX:BR) ("the Company" or "Big Rock") is pleased to announce that it has closed its previously announced bought deal offering and has issued 799,250 common shares of Big Rock ("Common Shares") at a price of $17.00 per Common Share, which includes the exercise in full of the over-allotment option granted to the underwriter (the "Offering") for aggregate gross proceeds of $13,587,250. Cormark Securities Inc. acted as the sole underwriter.

The net proceeds of the Offering will be used to repay the aggregate amount outstanding under the revolving operating loan facility of the Company in the amount of approximately $2.7 million as at March 20, 2014 and for future expenditures anticipated to be incurred in connection with the construction and launch of the Company's new British Columbia brewery and restaurant, which is currently anticipated to be approximately $3.0 million. The remaining net proceeds of the Offering are expected to be used to further geographical expansion growth opportunities in the Company's other key markets of Ontario, Manitoba and/or Saskatchewan.

This press release does not constitute an offer of securities for sale in the United States. The Common Shares offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such Common Shares may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements.

About Big Rock Brewery Inc.:

Big Rock Brewery Inc. produces premium, all-natural craft beers. Big Rock boasts a family of exceptional ales and lagers, Rock Creek Cider®, an ongoing selection of seasonal beers released through the Brewmaster's Limited Edition and cutting-edge, small-batch brews released through the Alchemist Edition.

For more information on Big Rock Brewery visit bigrockbeer.com

Forward-Looking Statements:

Certain information contained in this press-release including, but not limited to, the use of net proceeds constitutes forward-looking information under applicable securities laws. All statements, other than statements of historical fact, may be forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "project", "predict", "propose", "potential", "targeting", "intend", "could", "might", "should", "believe" and similar expressions. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Big Rock believes that the expectations reflected in those forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this press release should not be unduly relied upon by investors as actual results may vary materially from such forward-looking statements.

The forward-looking information and statements contained herein are expressly qualified in their entirety by this cautionary statement, and are made as of the date of this press release and the Company does not undertake any obligation to publicly update such forward-looking information and statements to reflect new information, subsequent events or otherwise unless so required by applicable securities laws.

Contact Information

  • Big Rock Brewery Inc.
    Robert Sartor
    President and Chief Executive Officer
    403.720.3239
    403.720.3641 (FAX)

    Big Rock Brewery Inc.
    Barbara Feit
    Chief Financial Officer
    403.720.3239
    403.720.3641 (FAX)
    investors@bigrockbeer.com