Global SeaFarms Corporation
CNSX : GSF

August 19, 2015 13:36 ET

Global SeaFarms Corporation Announces a Private Placement of Secured Debentures

MONTREAL, QUEBEC--(Marketwired - Aug. 19, 2015) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS.

Global SeaFarms Corporation (CSE:GSF) ("GSF" or the "Company") wishes to announce today that it intends to carry out a private placement (the "Private Placement") of secured debentures (the "Secured Debentures") for up to $750,000, subject to its right to increase the offering at its sole discretion. The Secured Debentures will have a maturity date of March 31, 2016 and have a return equal to 100% of their face value. The private placement will be conducted on a non-brokered basis.

The Private Placement is in addition to the private placement of secured debentures of an amount of $1,073,150 which closed on July 15, 2015.

The net proceeds of the proposed private placement will be used by the Company to mainly fund working capital requirements and operating activities in the Company's Dominican Republic subsidiary, Caribbean SeaFarms SRL, and general corporate expenses of the Company.

Completion of the Private Placement is subject to customary closing conditions for transactions of this nature, including the approval of the Canadian Securities Exchange.

This news release shall not constitute an offer to sell, nor the solicitation of an offer to buy, nor shall there be any securities of GSF offered in any jurisdiction in which such an offer, solicitation or sale would be unlawful. The Secured Debentures will be offered on a private placement basis and only to "accredited investors", as such term is defined under applicable Canadian securities laws.

THE SECURITIES WILL NOT BE REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933 (THE "1933 ACT") AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION UNDER OR AN APPLICABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE 1933 ACT.

About Global SeaFarms

GSF is a fully integrated fish farming operation with a commercial hatchery, farm and processing facility in the Dominican Republic. GSF is engaged in the identification and development of high-potential aquaculture projects in the Americas. GSF has two vectors to its growth strategy - warm water opportunities in the region of the Caribbean Sea and cold water opportunities in North America. GSF is currently expanding its warm water platform operation in the Dominican Republic and ramping up production of Florida Pompano for the U.S. seafood market. No regulatory authority has reviewed this press release nor have they approved nor disapproved the contents of this news release.

Forward Looking Statements

Certain statements included in this News Release contain forwardlooking statements, including disclosure concerning possible or assumed future results of operations of the Company. Forwardlooking statements typically are preceded by, followed by or include the words - "believes", " expects", "anticipates", "estimates", "intends", "plans", or similar expressions. Forwardlooking statements are not guarantees of future performance. They involve risks, uncertainties and assumptions, and the Company's results could differ materially from those anticipated in these forwardlooking statements. Neither CNSX nor its Regulation Services Provider (as that term is defined in the policies of the CNSX) accepts responsibility for the adequacy or accuracy of the release.

Contact Information

  • Robert Boisjoli
    Global SeaFarms Corporation
    514-821-9857