Caribbean Diversified Investments, Inc.
CNSX : HDC

March 06, 2014 11:07 ET

Caribbean Diversified Investments Announces Closing of First Tranche of Private Placement

TORONTO, ONTARIO--(Marketwired - March 6, 2014) - Caribbean Diversified Investments, Inc. (CSE:HDC) (the "Company" or "Caribbean Diversified Investments") announced today that further to its press release of November 11, 2013, and further to a partial variation order issued by the Ontario Securities Commission on February 27, 2014 permitting the completion of this transaction. It closed its first tranche of financing of $300,000, being 2,142,857 WC Units.

Each WC Unit purchased consisted of one (1) common share (a "Common Share") of the Company, priced at $0.14, and one (1) common share purchase warrant (a "WC Warrant"). Each WC Warrant entitles the holder thereof to purchase one (1) Common Share of the Corporation (a "WC Warrant Share") at a price of $0.19 per WC Warrant Share until February 28, 2016.

The Company intends to use the proceeds to bring its continuous disclosure obligations up to date and to fund its operations.

A finder's fee of 5% cash and 107,143 compensation options was paid on portions of the gross proceeds in compliance with applicable securities laws. Each compensation options entitles the holder to purchase a WC Unit at $0.14 until February 28, 2016.

Securities issued under this private placement are subject to hold periods ending on or after June 29, 2014.

Proceeds from the Offering are intended to be used as working capital to support building and growth of the St. Helen University operation. The Shares to be issued in connection with this Offering will be subject to a four month and one day hold period from the share issuance date in accordance with the policies of the Canadian Securities Exchange and applicable securities laws.

The Offering is subject to all necessary regulatory and stock exchange approvals.

About Caribbean Diversified Investments, Inc.

Caribbean Diversified Investments, Inc. (CDI) is a Canadian based investment company whose core business is focused on the development its wholly-owned subsidiary, St. Helen University in St. Lucia. CDI's goal is to invest in the expansion of the university, its student's and curriculum through the acquisition of real estate, residence accommodation and other infrastructure businesses to support the faculty and student population in St. Lucia's "Education Corridor".

For more information please visit the Caribbean Diversified Investments' website at www.caribbeaninvestments.ca and the St. Helen University website at www.shu.com.lc.

This press release may contain projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of CDI. These risks and uncertainties could cause actual results and CDI's plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice. CDI assumes no obligation to update forward-looking information should circumstances or management's estimates or opinions change.

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