MONTREAL, QUEBEC--(Marketwired - Sept. 30, 2015) -
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Global SeaFarms Corporation (CSE:GSF) ("GSF" or the "Company") wishes to announce today that it has closed a private placement (the "Private Placement") of secured debentures (the "Secured Debentures") for an amount of $435,200. The Secured Debentures have a maturity date of March 31, 2016 and have a return equal to 100% of their face value. The Private Placement was conducted on a non-brokered basis.
The Private Placement is in addition to the private placement of secured debentures of an amount of $1,073,150 which closed on July 15, 2015.
The net proceeds of the Private Placement will be used by the Company to mainly fund working capital requirements and operating activities in the Company's Dominican Republic subsidiary, Caribbean SeaFarms SRL, and general corporate expenses of the Company.
About Global SeaFarms
GSF is a fully integrated fish farming operation with a commercial hatchery, farm and processing facility in the Dominican Republic. GSF is engaged in the identification and development of high-potential aquaculture projects in the Americas. GSF has two vectors to its growth strategy - warm water opportunities in the region of the Caribbean Sea and cold water opportunities in North America. GSF is currently expanding its warm water platform operation in the Dominican Republic and ramping up production of Florida Pompano for the U.S. seafood market. No regulatory authority has reviewed this press release nor have they approved nor disapproved the contents of this news release.
Forward Looking Statements
Certain statements included in this News Release contain forward-looking statements, including disclosure concerning possible or assumed future results of operations of the Company. Forward-looking statements typically are preceded by, followed by or include the words - "believes", " expects", "anticipates", "estimates", "intends", "plans", or similar expressions. Forward-looking statements are not guarantees of future performance. They involve risks, uncertainties and assumptions, and the Company's results could differ materially from those anticipated in these forward-looking statements. Neither CNSX nor its Regulation Services Provider (as that term is defined in the policies of the CNSX) accepts responsibility for the adequacy or accuracy of the release.
Global SeaFarms Corporation