The Fresh Factory Completes $3 Million Private Placement

The Fresh Factory B.C. Ltd. has announced the successful completion of its non-brokered private placement, raising US$3 million through the sale of 26,087 voting shares priced at US$115 each. The company aims to use the proceeds for business growth, facility upgrades, and general corporate purposes. The placement is still subject to the final approval of the TSX Venture Exchange.

Alongside this, The Fresh Factory's existing credit facility with Mitsubishi HC Capital America Inc. has been increased from US$4 million to US$5 million. This expansion does not involve any additional changes to the lending terms.

Some company directors participated in the share purchase, categorized as "related party transactions." The company relied on exemptions under Multilateral Instrument 61-101, since the transaction value was less than 25% of the market capitalization.