KELOWNA, BC / November 5, 2015 / Laguna Blends Inc. (the "Company" or "Laguna") (LAG:CNX) previously announced on July 30, 2015, September 21, 2015, and October 2, 2015 and disclosed in the Company's listing statement, that it is conducting a non-brokered private placement of up to 3,571,429 units at a price of $0.28 per unit for aggregate gross proceeds of up to $1-million. The Company has now closed the second tranche of this private placement consisting of 434,071 units for gross proceeds of $121,540. Each unit consists of one common share and one share purchase warrant, each warrant entitling the holder to acquire one additional common share of the company at a price of $0.50 per warrant share until October 30, 2017. The warrants contain an acceleration provision, such that if the Company's shares trade at a price of $0.60 or more for 20 consecutive trading days, the expiry date will be accelerated. The units have a hold period expiring on March 1, 2016. Also, the Company settled $19,115 in debt to an arm's length party by the issuance of 106,194 common shares of the Company. The common shares have a hold period expiring on February 29, 2016.
About Laguna Blends Inc.
The Company's business is focused on the nutritional health benefits derived from hemp. Laguna is a network marketing company that intends to generate retail sales through independent affiliates. Affiliates utilize tools and technology that enable them to build an international business from their own home or while travelling. The first products to be launched are functional beverage products that provide high levels of protein and or nutrition.
Laguna's products are made from high quality hemp protein. Some of the current products are, "Caffe" an instant, "just add water" hot coffee beverage that contains both whey and hemp protein. In addition, the Company plans to market a product called Pro369. This unique single serving "on-the-go" hemp protein is served cold and comes in 4 delicious flavors. Pro369 is water soluble and can be directly mixed in water or added to milk, almond milk or coconut milk. Pro369 can be blended in a shake or smoothie. The Company intends to sell its products through its independent affiliates in the USA and Canada and anticipates launching its business in late 2015.
ON BEHALF OF THE BOARD
President, Chief Executive Officer,
Chief Financial Officer and Director
FOR INVESTOR RELATIONS INFORMATION PLEASE CONTACT:
This news release contains "forward-looking information" within the meaning of applicable securities laws relating to statements regarding the Company's business, products and future plans including, without limitation, statements regarding the expected launch date for the Company's business, its product offerings and plans for sales and marketing. Although the Company believes that the expectations reflected in the forward looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned to not place undue reliance on forward-looking information. Such forward looking statements are subject to risks and uncertainties that may cause actual results, performance and developments to differ materially from those contemplated by these statements depending on, among other things, the risks that the Company's products and plan will vary from those stated in this news release and the Company may not be able to carry out its business plans as expected. Except as required by law, the Company expressly disclaims any obligation, and does not intend, to update any forward looking statements or forward-looking information in this news release. The statements in this news release are made as of the date of this release.
DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer