D. G. Jewellery of Canada Ltd. Completes Equity Financing.TORONTO--(BUSINESS WIRE)--June 7, 1999-- D.G. Jewellery of Canada Ltd. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on NM: DGJL), which designs, manufactures, merchandises and distributes stone-set jewelry, announced today that it has raised gross proceeds of (US) $4 million through the private placement of its common shares at the market price to an investment fund advised by RAM Capital Resources, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , of New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. . The company has the right, but not the obligation, to cause the investor to purchase an additional $2 million of common shares on identical terms. Jack Berkovits, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of D.G. Jewellery, said, "The additional equity will allow the company to increase its working capital and fund our aggressive expansion program. We expect to continue to diversify our customer base and expand our distribution channels with special emphasis on our recent Internet initiatives." "We anticipate a bright future for D.G. Jewellery as the company enters the exciting world of electronic commerce through a variety of online distribution channels," said RAM's president Michael Fein. "We believe D.G. Jewellery has a sound strategic plan, a superior manufacturing process, and a clear focus on its markets." D.G. Jewellery of Canada Ltd. is primarily engaged in the design, merchandising and distribution of stone-set jewelry for department stores This is a list of department stores. In the case of department store groups the location of the flagship store is given. This list does not include large specialist stores, which sometimes resemble department stores. , mass merchants, catalog showrooms, television shopping networks and other high-volume retailers and other major discounters. The company maintains a broad base of customers concentrated in five major jewelry segments: Internet retailers, auctioneers and other web merchants; Department stores such as J.C. Penney and Saks Fifth Avenue Saks Fifth Avenue is a chain of upscale American department stores that is owned and operated by Saks Fifth Avenue Enterprises (SFAE), a subsidiary of Saks Incorporated. It competes in the elite luxury department store market with Neiman Marcus, Bergdorf Goodman and Barneys New ; Specialty markets such as QVC QVC Quality Value Convenience QVC Question Valid Command Inc., Home Shopping Network “HSN” redirects here. For other uses, see HSN (disambiguation). The Home Shopping Network (HSN) is a mostly 24-hour shopping network that is seen on cable, satellite, and some terrestrial channels in the United States. , ValueVision International, Shop at Home, QVC England, QVC Germany and The Shopping Channel (Canada); Jewelry chain stores such as Zales, Gordons, and Friedmans; Mass merchandisers such as Wal-Mart and Zellers. Except for the historical information contained herein the matters discussed in this earnings release include forward-looking statements that may involve a number of risks and uncertainties. Actual results may vary significantly based on a number of factors, including, but not limited to, risks in product demand, the impact of competitive products and pricing, changing economic conditions, both here and abroad, release and sales of new products, and other risk factors detailed in the Company's most recent annual report and filings with the Securities and Exchange Commission. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion