VANCOUVER, British Columbia, Sept. 15, 2016 (GLOBE NEWSWIRE) -- GLOBAL GARDENS GROUP INC. (THE “COMPANY”) (CSE:VGM) is pleased to announce it has closed the third and final tranche of its over-subscribed private placement, as previously announced on August 5, 2016 and August 26, 2016, for gross proceeds of an additional $1,121,000, bringing the total gross proceeds raised under the three tranches to approximately $7.5 million.
Rob Harrison, President and CEO, states, "Global Gardens is thrilled to have successfully raised $7.5 million in its over-subscribed private placement. The funds raised will allow the Company to continue with its business plan to market and sell the Veggemo shelf-stable product line in the United States, and to add the refrigerated product line in Canada."
In connection with the third tranche of the private placement, the Company paid finders' fees to certain finders in cash and finder's warrants. The finder's warrants have the same terms as each whole warrant issued in the private placement.
For further details of the private placement, please refer to the Company's news releases dated August 5, 2016 and August 26, 2016.
About Veggemo
The Veggemo product line is the first and only non-dairy beverage to originate from vegetables and is Global Garden Group’s (VGM) showcase product for the dairy-free industry. Veggemo is available in 3 variants: Original, Unsweetened and Vanilla flavors. The Dairy-free industry continues to witness dynamic growth led by the development of plant-based food and beverages.
Veggemo has received a multitude of awards and accolades from the health & wellness community. This includes being:
- Selected as one of the ten most innovative new products from 300 entrants at the 2015 Canada Grocery Innovation Show.
- One of three finalist brands from over 500 nominations for “Best New Beverage” for a coveted NEXTY Award at Natural Products Expo West in Anaheim which represents the largest health & wellness food & beverage show in North America with over 77,000 attendees.
- The winner as best new Vegan product by VegNews Magazine at the same Expo West trade show.
About Global Gardens Group
Global Gardens Group is comprised of a highly experienced management team and board that have provided senior leadership to many consumer brands including: Neilson Dairy, Ben & Jerry’s and Haagen Dazs Ice Cream, Gillette, P&G, Cadbury Schweppes, Sunkist, Dole, Primo Pasta and Lululemon.
For further information, please contact: Rob Harrison President & CEO Global Gardens Group Inc. T: 604.351.7609 E: rob@globalgardensgroup.com
