Ten Peaks Coffee Company Inc.

Ten Peaks Coffee Company Inc.

August 19, 2015 08:50 ET

Ten Peaks Coffee Company Announces Closing of Over-Allotment Option

BURNABY, BRITISH COLUMBIA--(Marketwired - Aug. 19, 2015) -


Ten Peaks Coffee Company Inc. (TSX:TPK) (the "Company" or "Ten Peaks") is pleased to announce that, in connection with its completed offering of 2,000,000 common shares of Ten Peaks (the "Shares") at a price of $8.80 per Share (the "Offering Price"), the underwriters have exercised their option (the "Over-Allotment Option") to purchase an additional 250,000 Shares at the Offering Price for additional aggregate gross proceeds to the Company of $2,200,000. The sale of the additional Shares today pursuant to the Over-Allotment Option brings the aggregate gross proceeds to Ten Peaks from the offering, including the Over-Allotment Option (collectively, the "Offering"), to $19,800,000.

The Offering was completed through a syndicate of underwriters led by Cormark Securities Inc. and including CIBC World Markets Inc. and PI Financial Corp. (the "Underwriters").

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

Company Profile

Ten Peaks is a publicly traded company that owns all of the interests of the Swiss Water Decaffeinated Coffee Company Inc. (SWDCC), a premium green coffee decaffeinator located in Burnaby, BC. It also owns and operates Seaforth Supply Chain Solutions Inc. (Seaforth), a green coffee handling and storage business located in Metro Vancouver.


SWDCC employs the proprietary SWISS WATER® Process to decaffeinate green coffee without the use of chemicals, leveraging science-based systems and controls to produce coffee that is 99.9% caffeine free. The SWISS WATER® Process is a 100% chemical free water process for coffee decaffeination, as well as the world's only consumer-branded decaffeination process. It is certified organic by the Organic Crop Improvement Association.

SWISS WATER® Process decaffeinated green coffees are sold to many of North America's leading specialty roaster retailers, specialty coffee importers and commercial coffee roasters. SWDCC also sells coffees internationally through regional distributors.

About Seaforth

Seaforth provides a complete range of green coffee logistics services including devanning coffee received from origin; inspecting, weighing and sampling coffees; and storing, handling and preparing green coffee for outbound shipments. Seaforth's warehouse and handling operation is certified organic by Ecocert Canada.

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