(TheNewswire)
Vancouver, British Columbia – TheNewswire - October 15, 2021 – Harrys ManufacturingInc. (“ Harrys ” or the “ Company ”)(CSE:HARY ) , (CNSX:HARY.CN), ( OTC:WSRRF) is pleasedto announce its wholly-owned subsidiary, Harrys InternationalManufacturing Inc., has commenced with its first order for Harrys® Premium King Size20s in slide and shell packaging. The Companyanticipates first shipments to Western Canada will begin lateNovember, 2021.
Harrys® cigarettes are designed and blended for adult tobacco consumers whoare looking for a quality product in the value priced segment of thecigarette market. “We are delighted that we’ll soon be able tooffer a Canadian-made product to adult tobacco consumers in WesternCanada”, says Ken Storey, President & CEO.
Non-Brokered Private Placement ofUnits
The Company also wishes to announce a non-brokeredprivate placement of up to 5,000,000 units (the “ Units ”) of theCompany at a price of $0.12 per Unit to raise total proceeds of up to$600,000 (the “ Offering ”).
Each Unit will be comprised of one (1) common share inthe capital of the Company (a “ Share ”) and one (1) transferable commonshare purchase warrant of the Company (a “ Warrant ”). EachWarrant will be exercisable into one (1) additional Share (a“ Warrant Share ”) at an exercise price of $0.20 per Warrant Share for aperiod of 24 months from the closing date of the Offering.
All securities issued in connection with the Offeringwill be subject to a statutory hold period of four months and one dayfollowing the closing date of the Offering in accordance withapplicable securities legislation. Completion of the Offering issubject to a number of conditions, including, but not limited to, thereceipt of all regulatory approvals, including approval of theCanadian Securities Exchange (the “ CSE ”). The Companymay pay a finder’s fee in connection with the Offering to eligiblearm’s length finders in accordance with CSE policies.
The Company intends to use the proceeds from theOffering for general working capital purposes and to fund theCompany’s entrance into the Canadian tobacco market, includinginitial product inventory purchases, regulatory security depositrequirements and staffing.
The securities being referred to in this news releasehave not been, nor will they be, registered under the United States(U.S.) Securities Act of 1933, as amended, and may not be offered orsold in the U.S. or to, or for the account or benefit of, U.S. personsabsent registration or an applicable exemption from the registrationrequirements. This news release does not constitute an offer to sellor the solicitation of an offer to buy nor shall there be any sale ofthe securities in any jurisdiction in which such offer, solicitationor sale would be unlawful.
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
Ken Storey
President & CEO
For further information, pleasecontact:
Corporate Communications
Telephone: 604-349-3011
Email: IR@HarrysMFG.com
Information inthis news release concerning the Company’s products is intended forthe exclusive use of market investors and is not in any way intendedto promote tobacco products to consumers, which is prohibited byCanadian law.
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”within the meaning of applicable Canadian securities laws. Allstatements in this news release, other than statements of historicalfacts, including statements regarding future estimates, plans,objectives, timing, assumptions or expectations of future performance,including the expected timing and ultimate completion of theCompany’s first shipments of tobacco products to Western Canada, theCompany’s ability to raise funds pursuant to the Offering or theCompany’s anticipated use of proceeds from the Offering, 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, including that the Company will remain on track to shipits first order to Western Canada, without material manufacturing,shipping and/or regulatory delays, and the Company will be successfulin raising funds pursuant to the Offering. These forward-lookingstatements are subject to known and unknown risks, uncertainties andother factors that may cause the actual results, level of activity,performance or achievements of the Company to be materially differentfrom those expressed or implied by such forward-looking statements orforward-looking information. Important factors that may cause actualresults to vary include: (i) risks associated with the production,manufacturing and shipping of tobacco products; and (ii) risks anduncertainties normally incident with the raising of capital,including, without limitation, financing risks, uncertaintiesaffecting the expected use of proceeds, the failure to satisfy theconditions of the relevant securities exchange(s) and delays resultingfrom or inability to obtain required regulatory approvals. Althoughmanagement of the Company has attempted to identify important factorsthat could cause actual results to differ materially from thosecontained in forward-looking statements or forward-lookinginformation, there may be other factors that cause results not to beas anticipated, estimated or intended. There can be no assurance thatsuch statements will prove to be accurate, as actual results andfuture events could differ materially from those anticipated in suchstatements. 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 as requiredby applicable securities laws.
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