SPoT Coffee (Canada) Ltd.
TSX VENTURE : SPP

SPoT Coffee (Canada) Ltd.

July 23, 2015 16:05 ET

SPoT Closes First Tranche of Financing, Announces Option Issuance

TORONTO, ONTARIO--(Marketwired - July 23, 2015) - SPOT COFFEE (CANADA) LTD. (TSX VENTURE:SPP) ("SPoT" or the "Company") is pleased to announce that it has closed the first tranche of its previously announced non-brokered private placement for total proceeds of $375,000 at a price of $0.05 per unit (each an "Equity Unity"). Each Equity Unit consists of one common share of SPoT (a "Common Share") and one half of one common share purchase warrant (a "Warrant"). Each whole Warrant entitles the holder to acquire one additional Common Share at a price of $0.075 for a period of four years from closing. All of the Common Shares and warrants issued in connection with this financing are subject to a statutory four-month hold period in accordance with applicable securities laws.

The Company also announces the grant of an aggregate of 1,209,994 options to acquire SPoT common shares at a price of $0.05 per common share to certain officers, directors, employees and consultants of the Company. These options will vest in twelve equal installments beginning the month of the grant. The options expire on the earlier of their fifth anniversary date or the time the optionees cease to serve as officers, directors or employees of the Company.

About SPoT Coffee

SPoT Coffee trades on the TSX Venture Exchange under the symbol SPP. SPoT designs, builds and operates community oriented cafés that provide its customers with the highest quality service, signature made-to-order meals and the world's finest in-house roasted gourmet coffee. Each SPoT café is distinctively designed to suit their local neighbourhoods, creating warm and friendly gathering places for the community. SPoT's commercial business focuses on retail stores, business accounts and third party resellers such as universities and hospitals.

Forward-Looking Statements

Except for statements of historical fact relating to the Corporation, certain information contained herein constitutes forward-looking statements. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. Except as required by applicable securities requirements, the Corporation undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the release.

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