Key Developments For Leading Brands, Inc.
Leading Brands, Inc. (LBIX.O) (Consolidated Issue listed on NASDAQ Capital Market)
Leading Brands, Inc. Announces Share Repurchase Program
Leading Brands, Inc. announced that its Board of Directors has authorized a share repurchase program for the repurchase of up to $500,000 (approximately CAD540,000 at present exchange rates) of the Company's outstanding common stock. The repurchase program will commence as soon as possible and expire upon the expenditure of the committed amount, is subject to applicable laws, the insider-trading window periods imposed by the Company's trading policy and may be suspended or terminated at any time by the Company's Board, without prior notice. Under the program, the Company may, but is not required to, purchase shares of its common stock from time to time through open market or privately negotiated transactions, as market and business conditions permit. Any repurchased shares will be returned to authorized but unissued shares of its common stock.
Leading Brands, Inc. Announces Launch Of PureBlue SuperJuice
Leading Brands, Inc. announced the launch of PureBlue SuperJuice. PureBlue is a great tasting, 100% juice blend of wild blueberries, varietal grapes and black currants. Each 10 ounce (300mL) bottle of PureBlue contains 750 mgs of polyphenols; the highest concentration of those powerful antioxidants available in supermarket or health food store. PureBlue is an extension of the Company's TrueBlue franchise of wild blueberry juice blends.
Leading Brands, Inc. Announces Closing Of $9.9 Million Private Placement Of Common Stock
Leading Brands, Inc. announced that it has raised gross proceeds of approximately $9.9 million through the sale of 3.3 million shares of common stock to certain institutional investors at $3.00 per share. Leading Brands will use the proceeds from this transaction for the marketing of its proprietary beverage brands and for general working capital. Merriman Curhan Ford & Co. acted as the exclusive placement agent for the financing. Investors also received warrants for the future purchase of 1.65 million shares of the Company's common stock. The warrants are exercisable at $3.95 per share. If all of the warrants are ultimately exercised for cash, Leading Brands will receive additional proceeds of approximately $6.5 million.
Leading Brands, Inc. Announces $9.9 Million Private Placement Of Common Stock
Leading Brands, Inc. announced that it has entered into definitive agreements to raise gross proceeds of approximately $9.9 million through the sale of 3.3 million shares of common stock to certain institutional investors at $3.00 per share. The Company will use the proceeds from this transaction for the marketing of its beverage brands and for general working capital. Investors will also receive warrants for the future purchase of 1.65 million shares of the Company's common stock. The warrants are exercisable at $3.95 per share. If all of the warrants are ultimately exercised for cash, the Company will receive additional proceeds of approximately $6.5 million.
Leading Brands, Inc. Announces Appointment Of Don Haliburton As CFO
Leading Brands, Inc. announced that it has appointed Don Haliburton, as Chief Financial Officer (CFO) of the Company. Donna Louis, CGA (nee Higgins), the Company's former CFO, assumes the responsibilities of Corporate Treasurer.
