Prime Drink Group Updates Rights Offering and Financial Delays

Author: Owen Jenkins Updated: 07-30-2025 09:15 PM

Prime Drink Group Announces Changes to Rights Offering

Prime Drink Group Corp. (CSE: PRME) has made an important announcement regarding its rights offering. The company has officially extended the expiry date of this offering to August 29, 2025. This decision comes after a notice of variation dated July 29, 2025 was released. All other terms associated with the rights offering remain unchanged, as detailed in their previous circular.

Understanding the Rights Offering

The rights offering enables shareholders of Prime Drink Group to receive a maximum of 353,409,888 rights, specifically allocated to those holding its common shares as of the record date on June 25, 2025. For each share held, shareholders will receive one right, which allows them the opportunity to subscribe for additional shares at a low price of $0.0825 each.

Funding Utilization Plans

For insight into how Prime intends to use the net proceeds from this rights offering, interested parties can refer to the information provided in the circular available on SEDAR+. This documentation will clarify how the funding will benefit and potentially expand the company's operations in the beverage sector.

Delay in Annual Financial Statements

Alongside the rights offering update, Prime Drink Group also announced a setback in filing its audited annual financial statements for the fiscal year ending March 31, 2025. The company missed the July 29, 2025 deadline for these submissions due to a transition in auditors. This change from MNP LLP Chartered Professional Accountants to Horizon Assurance LLP prompted additional time requirements to complete the audit process.

Future Expectations for Financial Submissions

The transition period is essential for ensuring thorough auditing and accountability. Prime expects to file the necessary documents by September 29, 2025, while collaborating closely with Horizon Assurance to expedite the processes involved.

Management Cease Trade Order

Due to the delay in filing, Prime has sought and received a Management Cease Trade Order (MCTO) from regulatory authorities. This order restricts the company's Chief Executive Officer and Chief Financial Officer from trading in the company's securities until the necessary filings are completed. However, other securityholders will maintain their ability to trade in accordance with applicable regulations.

About Prime Drink Group

Prime Drink Group Corp (CSE: PRME) is based in Québec and is ambitiously working towards establishing itself as a leader in the beverage, influencer media, and hospitality sectors. The company has clear goals set for expansion, aiming to diversify its holdings and impact within these dynamic markets.

Get in Contact

If you would like further information regarding Prime Drink Group or its offerings, you can reach out to Jean Gosselin, the Chief Financial Officer, at (514) 394-7717. For email inquiries, feel free to contact them at info@prime-group.ca.

Frequently Asked Questions

What is the new expiry date for the rights offering?

The new expiry date for the rights offering is August 29, 2025.

How many rights are available for the shareholders?

There are a maximum of 353,409,888 rights available for the shareholders.

Who can take advantage of the rights offering?

Only shareholders holding common shares as of the record date of June 25, 2025, are eligible to participate in the rights offering.

What is the price per rights share?

Each rights share can be subscribed for at a price of $0.0825.

Why are the financial statements being delayed?

The delay is due to a change in auditors, requiring additional time to complete the audit for the annual financial statements.

About The Author

Hi there I'm 38-year-old author and financial consultant Owen Jenkins. Having worked in the financial sector for more than ten years, I am well-versed in the subtleties and complexity that mold our financial environment. Following a degree in finance, I worked in a number of financial institutions honing my abilities in market analysis, financial planning, and investment strategies.

My love is teaching others about investing and personal finance. My goal in writing many books and articles has been to demystify financial ideas and give readers the information they need to make wise financial decisions. I write with a direct, useful style that emphasizes doable suggestions for daily living.

Along with writing, I lead webinars and seminars where I impart knowledge on how to successfully negotiate the financial world. I also write for financial journals and show up as a guest expert on financial news programs a lot. Whether they are new to investing or want to improve their approach, my mission is to enable people to take charge of their financial futures.

Beyond work, I like to hike, play the guitar, and spend time with my family. I think that balance is crucial and want to encourage people to strike a balance between their financial aspirations and their hobbies. I want to help people succeed and achieve financial security through my work, so having a good influence.

Contact Owen Jenkins privately here. Or send an email with ATTN: Owen Jenkins as the subject to contact@investorshangout.com.

About Investors Hangout

Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/

The content of this article is based on factual, publicly available information and does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice, and the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. This article should not be considered advice to purchase, sell, or hold any securities or other investments. If any of the material provided here is inaccurate, please contact us for corrections.