SOURCE: Russell Breweries Inc.
VANCOUVER, BC--(Marketwired - March 20, 2014) -
THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT AUTHORIZED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Russell Breweries Inc. (TSX VENTURE: RB) (the "Company") is pleased to announce a non-brokered private placement (the "Private Placement") of common shares of the Company (the "Shares") of up to $500,000 at the price of $0.06 per Share.
The Shares issued pursuant to the Private Placement will be subject to a hold period of four months and one day from the closing date. Closing of the Private Placement is subject to the receipt of all applicable regulatory approvals.
The proceeds of the Private Placement will be used to meet the Company's working capital and fixed assets investment needs, in order to support the Company's growth objectives.
About Russell Breweries Inc.
Russell Breweries Inc. is a leading Western Canadian brewer. It brews, markets, sells and distributes a diverse portfolio of award-winning beers that are produced by its wholly-owned regional breweries: Russell Brewing Company in British Columbia and Fort Garry Brewing Company in Manitoba. Both breweries are dedicated to producing high-quality, flavourful ales and lagers. Russell Breweries Inc. is publicly listed on the TSX Venture Exchange (TSX VENTURE: RB).
This release includes certain statements that are deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include: the ability of the Company to complete the Private Placement, the receipt of the required regulatory approvals and the use of the proceeds of the Private Placement. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.