(TheNewswire)
Vancouver, British Columbia – TheNewswire - March 12, 2021 – Harrys ManufacturingInc. (“ Harrys ” or the “ Company ”)(CSE:HARY ) (CNSX:HARY.CN) , ( OTC:WSRRF) is pleased toannounce a non-brokered private placement of up to 6,250,000 units(the “ Units ”) of the Company at a price of $0.12 per Unit to raisetotal proceeds of up to $750,000 (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, excise taxes, regulatory securitydeposit requirements 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: 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, includingthe Company’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 be successful in raisingfunds pursuant to the Offering. These forward-looking statements aresubject to known and unknown risks, uncertainties and other factorsthat may cause the actual results, level of activity, performance orachievements of the Company to be materially different from thoseexpressed or implied by such forward-looking statements orforward-looking information. Important factors that may cause actualresults to vary include risks and uncertainties normally incident withthe raising of capital, including, without limitation, financingrisks, uncertainties affecting the expected use of proceeds, thefailure to satisfy the conditions of the relevant securitiesexchange(s) and delays resulting from or inability to obtain requiredregulatory approvals. Although management of the Company has attemptedto identify important factors that could cause actual results todiffer materially from those contained in forward-looking statementsor forward-looking information, there may be other factors that causeresults not to be as anticipated, estimated or intended. There can beno assurance that such statements will prove to be accurate, as actualresults and future events could differ materially from thoseanticipated in such statements. Accordingly, readers should not placeundue reliance on forward-looking statements and forward-lookinginformation. Readers are cautioned that reliance on such informationmay not be appropriate for other purposes. The Company does notundertake to update any forward-looking statement, forward-lookinginformation or financial out-look that are incorporated by referenceherein, except in accordance 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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