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Peekaboo Beans Provides Update on US Expansion and Private Placement

Apr 12, 2017


VANCOUVER, BC – April 12, 2017-- Peekaboo Beans Inc. (“Peekaboo Beans” or the “Company”) (TSXV-BEAN), a direct-sales retailer of children’s apparel, provides an update on its plans to expand its independent sales network of “Stylists” into the United States (the “US Expansion”), along with continued strategic growth in Canada and its proposed private placement financing.

Peekaboo Beans will begin recruiting direct sales representatives (“Stylists”) in the United States through digital and social media campaigns targeted to areas where the Company has the most web traffic beginning this year with the goal to officially launch the US Expansion in Fall 2017. Peekaboo Beans plans to launch nationally across the United States in 2018.

“The American demand for Peekaboo Beans children apparel and more importantly, the response by American women to join Peekaboo Beans has been overwhelming” said Ms. Traci Costa, Founder and CEO of Peekaboo Beans. “Consumer confidence and small business optimism has soared to multi-decade highs in the United States. Peekaboo Beans will be creating meaningful employment for American women and lasting economic benefits for the communities where our Stylists serve”, Mrs. Costa added. “All told, we believe we can grow to have more Stylists from our US soft launch than we have in all of Canada in a very short time, while we continue to support our Canadian growth."

Additionally, Peekaboo Beans, is providing an update on the Company’s brokered private placement (the “Offering”) and non-brokered private placement (the “NonBrokered Offering”) previously announced on March 3, 2017. Canaccord Genuity Corp. is acting as lead agent and sole bookrunner in connection with the brokered private placement.

The terms of the Offering have been amended to consist of a private placement of up to 5,000,000 units of the Company (the “Units”) at a price of $0.60 per Unit for aggregate gross proceeds of up to $3,000,000. Each Unit will be comprised of one common share of the Company and one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant shall be exercisable into one common share of the Company at a price of $0.80 for a period of 24 months following closing of the Offering. The exercise period of each Warrant may be accelerated by the Company if at any time during the term of the Warrant the volume weighted average price of the Company’s common shares on the TSX Venture Exchange is equal to or greater than $1.55 over a period of 10 consecutive trading days. Concurrent with the Offering, the Company may complete the NonBrokered Offering, consisting of the issuance of up to 1,666,666 Units for aggregate gross proceeds under the Non-Brokered Offering of up to $1,000,000.

The Offering and the Non-Brokered Offering are expected to close concurrently on or about April 26, 2017, and are subject to approval of the TSX Venture Exchange, and in the case of the Offering, customary closing conditions for brokered financings. Closings of the Offering and Non-Brokered Offering are not conditional on each other.

The Company intends to use the proceeds from the Offering and Non-Brokered Offering for its US Expansion and expanding operations in Eastern Canada which will include, in each case, sales training, marketing initiatives, software development and inventory.

About Peekaboo Beans
Peekaboo Beans Inc. is a high-quality, ethically manufactured children’s apparel brand sold exclusively through its direct-sales network of Stylists or independent sales representatives. In line with its mission, Peekaboo Beans develops custom fabrics and designs its apparel to promote play in children’s lives. Through the direct-sales model, Peekaboo Beans trains women to be entrepreneurs, build a business and generate income on their own terms.

Peekaboo Beans has 7,026,423 Common Shares and 2,960,258 warrants outstanding.

Forward-Looking Information
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 may include forward-looking information that is subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward-looking, including statements with respect to anticipated closing of the Offering and Non-Brokered Offering and the use of proceeds from the Offering and Non-Brokered Offering. Although the Company believes the expectations expressed in such forward-looking information are based on reasonable assumptions, such information is not a guarantee of future performance and actual results or developments may differ materially from those contained in forward-looking information. Factors that could cause actual results to differ materially from those in forward-looking information include, but are not limited to, fluctuations in market prices, successes of the operations of the Company, continued availability of capital and financing and general economic, market or business conditions. There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.

For further information, please contact:
Peekaboo Beans Inc.
Mrs. Traci Costa
CEO and President
+ (604) 279-2326

Investor Relations:
Ms. Terri-Anne Welyki

To view the original version, visit: http://investors.peekaboobeans.com/overview/

SOURCE Peekaboo Beans Inc.

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