CALGARY,
AB, Jan. 17, 2024 /CNW/ - CE Brands Inc.
(TSXV: CEBI) ("CE Brands" or the "Company") is pleased to announce
that, in connection with its previously announced public offering
on November 20, 2023 (the
"Offering"), Integral Wealth Securities Limited ("Integral") has
agreed to use commercially reasonable efforts to market the
Offering and to sell 200,000,000 to 250,000,000 common shares in
the capital of the Company at a price of $0.02 per pre-consolidation common share
($0.20 post-consolidation common
share) (the "Issue Price") for aggregate proceeds of no less than
$4,000,000 (the "Minimum Offering")
and up to $5,000,000 (the
"Maximum Offering").
For further details regarding the Offering and the ten (10) for
one (1) share consolidation, please see the press releases of the
Company dated November 20, 2023 and
December 4, 2023.
CE Brands has applied to list the common shares on the TSX
Venture Exchange (the "TSXV"). The Offering is subject to a number
of conditions, including, without limitation, receipt of all
regulatory approvals, including approval of the TSXV, and the
completion of a consolidation of the common shares in the capital
of CE Brands on a ten-for-one basis.
CE Brands intends to use the proceeds of the Offering to launch
its Vitalist smartwatches, smart rings, and related health
products; fund the expansion of its line of Moto smartwatches; and
further reduce indebtedness. Further details are disclosed in the
Preliminary Prospectus, available at www.sedarplus.ca.
About the Company
The Company develops products with leading manufacturers and
iconic brand licensors by utilizing proprietary data that
identifies key market opportunities.
Neither the TSX Venture Exchange nor its regulation services
provider (as defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this press
release.
Forward-looking
Information
This press release may contain forward-looking information
within the meaning of securities legislation, concerning the
Company's business and affairs. In certain cases, forward-looking
information can be identified by the use of words such as "plans",
"expects" or "does not expect", "intends", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates" or variations of
such words and phrases, or state that certain actions, events or
results "may", "could", "would", "might" or "will be taken",
"occur", or "be achieved". Such forwarding-looking statements
include those with respect to the Company's intention to use the
net proceeds of the Offering.
Statement of past performance should not be construed as an
indication of future performance. Forward-looking statements
involve significant risks and uncertainties, should not be read as
guarantees of future performance or results, and will not
necessarily be accurate indications of whether or not such results
will be achieved. A number of factors, including those discussed
above, could cause actual results to differ materially from the
results discussed in the forward-looking statements. Any such
forward-looking statements are expressly qualified in their
entirety by this cautionary statement. Readers are cautioned not to
place undue reliance on such forward-looking statements.
Forward-looking information is provided as of the date of this
press release, and the Company assumes no obligation to update or
revise them to reflect new events or circumstances, except as may
be required under applicable securities legislation.
SOURCE CE Brands Inc.
