(TheNewswire)
Vancouver, British Columbia – TheNewswire - March 2, 2021 – Harrys ManufacturingInc. (“ Harrys ” or the “ Company ”)(CSE:HARY ) (CNSX:HARY.CN) ( OTC:WSRRF) ispleased to announce it has completed a non-brokered private placement(the “ Offering ”), pursuant to which it issued an unsecured convertibledebenture (the “ Debenture ”) in the principal amountof $200,000 (the “ PrincipalAmount ”) .
The Debenture bears interest at a rate of 6% per annumfrom the date of issue (the “ Issue Date ”), calculated and payable on thedate that is two (2) years from the Issue Date, unless earlierconverted.
The Principal Amount and any accrued and unpaidinterest on the Debenture may be convertible at the election of theholder into units of the Company(“ Units ”) at a conversion price of $0.10 perUnit . Each Unit consistsof one common share (a “ Share ”) and one common share purchasewarrant (each, a “ Warrant ”). Each Warrant will be exercisableinto one Share (each, a “ Warrant Share ”) at an exercise price of$0.12 per Share for a period of 24 months after the Issue Date.
In accordance with applicable securities laws, allsecurities issued under the Offering will be subject to a four monthand one day hold period from the date of issuance.
The net proceeds of the Offering will be used forgeneral and corporate working capital purposes.
About Harrys
Harrys is a wholesale distributor of value priced, highquality, 100% natural tobacco cigarettes. Harrys utilizes varioustypes of tobacco blends to satisfy customer demands and preferencesfor products that meet Health Canada standards. Harrys’ managementteam brings over 50 years of combined experience in the domestic andinternational tobacco industry.
For more information, please visit: www.harrysmfg.com
ON BEHALF OF THE BOARD
"[Kevin Kohanik]"
Director
For further information, pleasecontact:
Corporate Communications
Telephone: 778-378-9375
Email: IR@HarrysMFG.com
Neither theCanadian Securities Exchange nor its regulation services provideraccepts responsibility for the adequacy or accuracy of thisrelease.
FORWARD-LOOKING STATEMENTS:
Cautionary Note RegardingForward-Looking Statements: This release includes certain statementsand information that may constitute forward-looking information withinthe meaning of applicable Canadian securities laws. All statements inthis news release, other than statements of historical facts,including statements regarding future estimates, plans, objectives,timing, assumptions or expectations of future performance areforward-looking statements and contain forward-looking information.Generally, forward-looking statements and information can beidentified by the use of forward-looking terminology such as"intends" or "anticipates", or variations of suchwords and phrases or statements that certain actions, events orresults "may", "could", "should","would" or "occur". Forward-looking statements arebased on certain material assumptions and analysis made by the Companyand the opinions and estimates of management as of the date of thisnews release. These forward-looking statements are subject to knownand unknown risks, uncertainties and other factors that may cause theactual results, level of activity, performance or achievements of theCompany to be materially different from those expressed or implied by suchforward-looking statements or forward-looking information. Importantfactors that may cause actual results to vary include, withoutlimitation: uncertainties affecting the Company’s ability to enterthe Canadian tobacco market and the Company’s ability to obtain any required provincial andfederal licenses and registrations to operate in the tobaccoindustry. Although managementof the Company has attempted to identify important factors that couldcause actual results to differ materially from those contained inforward-looking statements or forward-looking information, there maybe other factors that cause results not to be as anticipated,estimated or intended. There can be no assurance that such statementswill prove to be accurate, as actual results and future events coulddiffer materially from those anticipated in such statements.Accordingly, readers should not place undue reliance onforward-looking statements and forward-looking information. Readersare cautioned that reliance on such information may not be appropriatefor other purposes. The Company does not undertake to update anyforward-looking statement, forward-looking information or financialout-look that are incorporated by reference herein, except inaccordance with applicable securities laws.
THIS NEWS RELEASEIS NOT FOR DISTRIBUTION TO THE UNITED STATES NEWSWIRE SERVICES OR FORDISSEMINATION IN THE UNITED STATES.
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