The sole investor of the financing is Toronto-based Curvature Fund, participating at a price of $1 per unit and subscribing for 250,000 total Units.
The capital will be utilised by SPoT to assist with the funding of the company’s ongoing new café expansion programme which includes SPoT Park Place in North York, Toronto and SPoT Transit Road in Buffalo, New York scheduled to open this summer.
SPoT is also announcing that it is presently arranging a non-brokered equity private placement for total proceeds of up to $1,000,000 at a price of $0.20 per unit.
The proceeds of the equity private placement will also be applied for the development of new SPoT cafés this year in Saratoga Springs, Albany, Syracuse and Ithaca, New York (US).
Source: SPoT Coffee
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