Clearly Canadian Completes Funding Under Bridge Loan.Business Editors VANCOUVER, Briths Columbia--(BUSINESS WIRE)--April 16, 2004 CLEARLY CANADIAN This article or section needs sources or references that appear in reliable, third-party publications. Alone, primary sources and sources affiliated with the subject of this article are not sufficient for an accurate encyclopedia article. BEVERAGE CORPORATION (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : CCBC CCBC Community College of Baltimore County (Maryland) CCBC Community College of Beaver County (Monaca, Pennsylvania) CCBC Caerphilly County Borough Council (Wales, UK) ) (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension : CLV (Constant Linear Velocity) Rotating a disk at varying speeds. By changing speed depending on which track is being accessed, the density of bits in each track can be made uniform. ) is pleased to report that it has completed its funding under its bridge loan with Quest Capital Corp. As referred to in the Company's previous news releases of February 23 and March 15, 2004, the Company had signed a loan agreement and completed certain security documents with Quest Capital pursuant to which the Company received a first advance of Cdn$750,000 from Quest Capital on March 5, 2004. Based on the Company providing Quest Capital with security over the Company's property interest located in Washington State, Quest Capital advanced a further Cdn$600,000 on April 13, 2004. The Company has elected to cap the bridge loan funding from Quest Capital at the present level of Cdn$1,350,000, rather than the Cdn$2,100,000 previously announced. The net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). from the bridge loan from Quest Capital are being used for general working capital. It is expected that the loan from Quest Capital will be repaid from proceeds of the Company's previously announced proposed prospectus offering in which the Company intends to raise up to Cdn$9 million through Dundee Securities Corporation as agent. About Clearly Canadian Based in Vancouver, B.C., Clearly Canadian markets premium alternative beverages, including Clearly Canadian(R) sparkling flavoured water, Clearly Canadian O+2(R) oxygen enhanced water beverage and Tre Limone(R) which are distributed in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Canada and various other countries. Additional information on Clearly Canadian may be obtained on the world wide web at www.clearly.ca. Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Words such as "expects", "intends", "anticipates", "likely", "believes" and words of similar import also identify forward-looking statements. Forward-looking statements are based on current expectations and analyses, including the Company's ability to complete the equity and debt financings referred to in this news release and its analysis of its cash flow requirements as well as the Company's analysis of its product distribution systems and its expectations regarding the effects of anticipated product distribution changes and the potential benefits of such efforts and activities on the Company's results of operations in future periods. Actual results may differ materially from those currently anticipated due to a number of factors including, but not limited to, the Company's ability to generate sufficient cash flows to support general operating activities and capital expansion plans, general economic conditions, changing beverage consumption trends of consumers, competition, pricing and availability of raw materials, the Company's ability to maintain the current and future retail listings for its beverage products and to maintain favourable supply, production and distribution arrangements, laws and regulations and changes thereto that may affect the way the Company's products are manufactured, distributed and sold and other factors beyond the reasonable control of the Company. Additional information on factors that may affect the business and financial results of the Company can be found in filings of the Company with the U.S. Securities and Exchange Commission and with the British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography and Ontario Securities Commissions The Ontario Securities Commission (OSC) is a regulatory agency which administers and enforces securities legislation in the Canadian province of Ontario. The OSC is an Ontario Crown corporation which reports to the Ontario legislature through the Minister of Finance. . CLEARLY CANADIAN BEVERAGE CORPORATION Douglas L. Mason, President and C.E.O. CLEARLY CANADIAN BEVERAGE CORPORATION is the registered holder of various trademarks, including CLEARLY CANADIAN(R). CLEARLY CANADIAN BEVERAGE CORPORATION, and its wholly owned subsidiaries Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , produce, distribute and market CLEARLY CANADIAN(R), CANADIAN O+2(R) and TRE LIMONE(R). |
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