Earlier this week, Laguna Blends, Inc. (CSE: LAG) (OTC:
LAGBF) announced plans to complete a non-brokered private placement of
1,863,636 units priced at $0.11 for gross proceeds of $205,000. Each unit will
include one share of the company’s Canadian Securities Exchange common stock,
as well as one transferable share purchase warrant exercisable at $0.15 for a
period of one year. Laguna plans to rely upon the ‘existing shareholder
exemption’, as described in Multilateral CSA Notice 45-313 – Prospectus
Exemption for Distributions to Existing Security Holders, as well as other
applicable exemptions. Proceeds from this offering are expected to be used
toward future IT expenditures, consulting fees, repayment of debts and working
capital.
April has proven to be an exciting months for shareholders
of Laguna Blends. Early in the month, the company introduced Pro369, a
water-soluble hemp protein powder, as its first entry into the functional
beverage products market. According to reports from Allied Market Research,
this market is expected to surpass $33.6 billion in revenues by 2020. Pro369
joined Caffe, the company’s protein-infused coffee beverage, as a flagship
product in Laguna’s rapidly expanding affiliate program. Since the launch of
its affiliate program in early March, Laguna has exceeded all growth
projections by attracting a base of well over 700 independent affiliates from
all corners of the United States and Canada.
Following completion of the proposed placement, Laguna is
expected to have the capital needed to build on this solid foundation. The
company has already launched phase one of its Laguna World virtual 3D
community, positioning it as the first network marketing company to use this
technology to train, recruit and drive sales. Additionally, Laguna recently
entered into a research and development agreement with Robert Lamberton through
which the company will be developing a proprietary brain health, memory coffee
product with all costs and expenses related to development covered by
Lamberton. Upon completion, Laguna will maintain the intellectual property and
worldwide marketing rights for the innovative product in exchange for a small
royalty on net sales.
For more information, visit www.lagunablends.com
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