Peekaboo Beans Inc. Announces Continuation of Private Placement Financing and Engagement of Market Making Services

VANCOUVER, B.C. / ACCESSWIRE / October 3, 2016 / Further to its news release of September 26, 2016, wherein Peekaboo Beans Inc., (TSX.V: PBB) (“Peekaboo Beans” or the “Company”) announced the completion of an initial tranche of its private placement financing of units (“Unit Financing”), raising $1,050,468 in conjunction with its reverse takeover transaction and listing on the TSX Venture Exchange, the Company is pleased to further announce that it intends to continue its plan to raise up to a total of $2,520,000 incidental to this Unit Financing, as set out in its release of June 2, 2016. The terms of the Unit Financing had altered slightly since the June 2 release.

The Unit Financing consists of the issuance of units at a price of $1.05 per unit. Each unit will consist of one common Share of Peekaboo (“Peekaboo Share”) and one share purchase warrant (“Peekaboo Warrant”), entitling the holder to purchase one additional Peekaboo Share at a price of $1.25 for a period of one year following the date of issuance of the warrant.

The Company may pay finder’s fees in connection with a portion of the financing, comprising of cash equal to 7% of the gross proceeds raised from subscriptions introduced by such finders and share purchase warrants (the “Finder Warrants”) equal to 10% of the number of Units sold to subscribers introduced by such finders, exercisable at a price of $1.25 for one year following the date of issuance.

The aggregate gross proceeds from the financing are intended to be used to fund the production-to-payment cycle associated with direct-sales, to invest in training and recruitment for Canadian expansion and for working capital and general corporate purposes.

All the securities issued pursuant to this financing will be subject to a four-month hold period. Completion of the financing is subject to receipt of all required regulatory and other approvals, including acceptance by the TSX Venture Exchange. The financing is not subject to any minimum aggregate subscription.

The Company also announces that it has, subject to regulatory approval, retained Venture Liquidity Providers Inc. (VLP) to initiate its market-making service to provide assistance in maintaining an orderly trading market for the common shares of the Company.

The market-making service will be undertaken by VLP through a registered broker, W.D. Latimer Co. Ltd., in compliance with the applicable policies of the TSX Venture Exchange and other applicable laws.

For its services, the corporation has agreed to pay VLP $5,000.00 per month for a period of 12 months. The agreement may be terminated at any time by the Company or VLP. The Company and VLP act at arm’s length, and VLP has no present interest, directly or indirectly, in the Company or its securities. The finances and the shares required for the market-making service are provided by W.D. Latimer. The fee paid by the company to VLP is for services only.

VLP is a specialized consulting firm based in Toronto providing a variety of services focused on TSX-V-listed issuers.

About Peekaboo Beans

Peekaboo Beans Inc. is a direct-sales retailer of high-quality children’s apparel. Our award winning brand and apparel promotes the importance of playtime over screen time, through thoughtful designs and custom developed fabrics. Through the direct-sales model, we train women to be entrepreneurs and build a business and generate income on their own terms.

Contact Information

For further Information, please contact:
Peekaboo Beans Inc.
Mrs. Traci Costa
CEO and President
+ (604) 279-2326
traci@peekaboobeans.com

Investor Relations:
Investor website address: investors.peekaboobeans.com
Ms. Terri-Anne Welyki
1-855-692-3267
ir@peekaboobeans.com

Media Relations:
Ms. Andrea Bava
+ (778) 908-1764
andrea@blitzme

The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release may include forward-looking information that is subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward-looking, including statements with respect to anticipated use of proceeds from the Financing. Although the Company believes the expectations expressed in such forward-looking information are based on reasonable assumptions, such information is not a guarantee of future performance and actual results or developments may differ materially from those contained in forward-looking information. Factors that could cause actual results to differ materially from those in forward-looking information include market prices, successes of the operations of the Company, continued availability of capital and financing, general economic, market or business conditions and those risks contained in the Filing Statement. There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.

SOURCE: Peekaboo Beans Inc.

ReleaseID: 446386