VISTA, Calif., Oct. 15, 2018 /PRNewswire/ -- NuZee, Inc. (OTCQB: NUZE) (d/b/a/ Coffee Blenders®), a single serve pour over co-packer that is revolutionizing the way coffee is enjoyed in America today announced the closing of approximately $1.4 million private placement equity financing. The Company sold 1,208,003 shares of common stock at a price of $1.20 per share. These sales were conducted during the period July 2, 2018 through October 11th, 2018.
Net proceeds will be used for general business operations.
"We are making notable progress in our ongoing evolution to become a co-packing business for regional and global coffee brands," said Masa Higashida, NuZee's Chief Executive Officer. "This additional capital will enable us to continue to pursue new clients, establish new sales channels, and support the introduction of new products."
All of the investors were non-U.S. persons (as that term is defined in Regulation S of the Securities Act of 1933, as amended) and those investors purchased in transactions outside of the United States. In issuing shares to those investors, we relied on the exemptions from the registration requirements provided for in Regulation S and/or Section 4(2) of the Securities Act of 1933, as amended.
This Press Release does not constitute an offer to sell or the solicitation of an offer to buy any security. The securities described herein have not been registered under the Securities Act or applicable state securities laws and may not be offered or sold in the United States or any state thereof absent registration under the Securities Act and applicable state securities laws or an applicable exemption from registration requirements.
About NuZee and Coffee Blenders
NuZee, Inc. (d/b/a Coffee Blenders®) is a pioneer in functional coffee, offering gourmet specialty grade coffee in convenient single serve cups using only natural ingredients with clinically supported nutraceuticals. Coffee Blenders also manufactures and sells in the United States its Drip Cup line of single serve, pour-over functional coffees, including Lean Cup® (for weight loss), Think Cup® (for cognitive performance), Relax Cup® (for stress reduction), Active Cup® (for a pre-workout boost of energy), Nude Cup® (100% Arabica coffee with no function), and Matcha Cup tea, ready-to-drink (RTD) gourmet, functional, cold brew coffee, and a Whole Bean coffee line. For more information on Coffee Blenders, please visit: http://www.coffeeblenders.com.
Forward Looking Statements
Any statements that are not historical facts contained in this release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements with respect to our beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond our control, and which may cause our actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be forward-looking statements. We have based these forward-looking statements upon information available to management as of the date of this release and management's expectations and projections about certain future events. It is possible that the assumptions made by management for purposes of such statements may not materialize. Such statements may involve risks and uncertainties, including but not limited to those relating to the Company's ability to increase production, product demand, pricing, market acceptance, the effect of economic conditions, intellectual property rights, the outcome of competitive products, risks in product development, and other factors discussed from time to time in the Company's Securities and Exchange Commission filings. The Company undertakes no obligation to update or revise any forward-looking statement for events or circumstances after the date on which such statement is made.
View original content to download multimedia:http://www.prnewswire.com/news-releases/nuzee-inc-completes-1-4-million-equity-financing-300730015.html
SOURCE NuZee, Inc.