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Organic Garage Files Preliminary Base Shelf Prospectus
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Rhea-AI Summary
Organic Garage Ltd. (TSXV: OG, OTCQX: OGGFF) has filed a preliminary short form base shelf prospectus, allowing it to raise up to CAD 15 million over the next 25 months. This move is aimed at bolstering financial flexibility and access to Canadian capital markets, though there are currently no immediate plans for an offering. The securities can include common shares, warrants, and subscription receipts with terms determined by market conditions at the time of sale. The Shelf Prospectus seeks to support the company's growth initiatives without current intentions of undertaking an offering.
Positive
Filed a Shelf Prospectus to raise up to CAD 15 million over 25 months.
Aimed at maintaining financial flexibility and efficient access to capital markets.
Negative
None.
TORONTO--(BUSINESS WIRE)--
Organic Garage Ltd. (TSXV: OG) (FRA: 9CW1) (OTCQX: OGGFF), one of Canada’s leading independent grocers, is pleased to announce that it has filed, and received a receipt for, a preliminary short form base shelf prospectus (the “Shelf Prospectus”) with the securities commissions in the provinces of Ontario, British Columbia, Alberta, Manitoba and Saskatchewan.
The Company is filing this Shelf Prospectus to maintain financial flexibility and efficient access to Canadian capital markets to pursue its growth initiatives but has no immediate intentions to undertake an offering.
Once a receipt for the final Shelf Prospectus is received from the applicable securities regulators, the Shelf Prospectus will allow the Company to offer and issue up to CAD $15 million of common shares, warrants, subscription receipts, units, or any combination of the foregoing (collectively, the "Securities") during the 25-month period that the Shelf Prospectus is effective. The Securities may be offered separately or together, in amounts, at prices and on terms to be determined based on market conditions at the time of sale. If any Securities are offered under the Shelf Prospectus, the terms of any such Securities and the intended use of net proceeds would be established at the time of the offering and would be described in a prospectus supplement to be filed with the applicable Canadian securities regulatory authorities at such time.
This press release does not constitute an offer to sell or the solicitation of an offer to buy Securities, nor will there be any sale of the Securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under securities laws of any such jurisdiction.
The Securities have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Securities in any State or jurisdiction in which such offer, solicitation or sale would be unlawful.
A copy of the Shelf Prospectus is available on SEDAR (www.sedar.com).
About Organic Garage Ltd.
Organic Garage (TSXV: OG)(OTCQX: OGGFF) (FRA: 9CW1) is one of Canada’s leading independent organic grocers and is committed to offering its customers a wide selection of healthy and natural products at everyday affordable prices. The Company’s stores are in prime retail locations designed to give customers an inclusive, unique and value-focused grocery shopping experience. Founded in 2005 by a fourth-generation grocer, Organic Garage is headquartered in Toronto. The Company is focused on continuing to expand its retail footprint within the Greater Toronto Area. For more information please visit the Organic Garage website at www.organicgarage.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain forward-looking statements and forward-looking information (collectively referred to herein as "forward-looking statements") within the meaning of applicable Canadian securities laws. All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "anticipate", "achieve", "could", "believe", "plan", "intend", "objective", "continuous", "ongoing", "estimate", "outlook", "expect", "may", "will", "project", "should" or similar words, including negatives thereof, suggesting future outcomes.
Forward looking statements are subject to both known and unknown risks, uncertainties and other factors, many of which are beyond the control of Organic Garage, that may cause the actual results, level of activity, performance or achievements of Organic Garage to be materially different from those expressed or implied by such forward looking statements. Although Organic Garage has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended.
Forward-looking statements are not a guarantee of future performance and involve a number of risks and uncertainties, some of which are described herein. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause Organic Garage's actual performance and results to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Any forward-looking statements are made as of the date hereof and, except as required by law, neither Organic Garage assumes no obligation to publicly update or revise such statements to reflect new information, subsequent or otherwise.
What is the purpose of Organic Garage's recently filed Shelf Prospectus?
The purpose is to maintain financial flexibility and efficient access to Canadian capital markets, allowing the company to raise up to CAD 15 million over the next 25 months.
How much can Organic Garage potentially raise with its Shelf Prospectus?
Organic Garage can potentially raise up to CAD 15 million through the Shelf Prospectus.
Is Organic Garage planning any immediate offerings under the Shelf Prospectus?
No, Organic Garage has no immediate intentions to undertake an offering under the Shelf Prospectus.
What types of securities can Organic Garage offer under its Shelf Prospectus?
Organic Garage may offer common shares, warrants, subscription receipts, units, or any combination of these securities.
What is the validity period for Organic Garage's Shelf Prospectus?
The Shelf Prospectus is effective for a period of 25 months.
