Vancouver, British Columbia – TheNewswire - May 13, 2021 – Harrys ManufacturingInc. (“ HARRYS ™ ” or the “ Company ”) (CSE:HARY )(CNSX:HARY.CN) ( OTC:WSRRF)is pleased to announce that, further to its news release dated March12, 2021, the Company has closed the first tranche of its non-brokeredprivate placement comprised of 3,528,332 units of the Company (each, a“ Unit ”) at $0.12 per Unit for gross proceeds of $423,399.84 (the“ Offering ”).
Each Unit consisted of one (1) common share in thecapital of the Company (a “ Share ”) and one (1) transferable commonshare purchase warrant of the Company (a “ Warrant ”). EachWarrant is exercisable into one (1) additional Share (a“ Warrant Share ”) at an exercise price of $0.20 per Warrant Share on orbefore May 13, 2023.
In connection with the Offering, the Company paidaggregate cash finder’s fees totalling $5,280 and issued 44,000finder’s warrants (the “ Finder’s Warrants ”) to certain qualifiedarm’s length finders. Each Finder’s Warrant is exercisable intoone (1) Share (a “ Finder’sWarrant Share ”) at an exercise price of $0.20per Finder’s Warrant Share on or before May 13, 2023.
All securities issued in connection with the Offeringare subject to a statutory hold period of four months plus a day inaccordance with applicable securities legislation ending on September14, 2021.
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.
HARRYS™ is a wholesale distributor of value priced,high quality, 100% natural tobacco cigarettes. HARRYS™ utilizesvarious types of tobacco blends to satisfy customer demands andpreferences for products that meet Health Canada standards. Themanagement team at HARRYS™ brings over 50 years of combinedexperience in the domestic and international tobacco industry.
For more information, please visit: www.harrysmfg.com
ON BEHALF OF THE BOARD
President & CEO
For further information, pleasecontact:
Email: [email protected]
Neither theCanadian Securities Exchange nor its regulation services provideraccepts responsibility for the adequacy or accuracy of thisrelease.
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 in thisnews release, other than statements of historical facts, includingstatements regarding future estimates, plans, objectives, timing,assumptions or expectations of future performance are forward-lookingstatements and contain forward-looking information. Generally,forward-looking statements and information can be identified by theuse of forward-looking terminology such as "intends" or"anticipates", or variations of such words and phrases orstatements that certain actions, events or results "may","could", "should", "would" or"occur". Forward-looking statements are based on certainmaterial assumptions and analysis made by the Company and the opinionsand estimates of management as of the date of this news release. Theseforward-looking statements are subject to known and unknown risks,uncertainties and other factors that may cause the actual results,level of activity, performance or achievements of the Company to bematerially 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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