The popular CBC Dragons’ Den alumnae and manufacturer of the popular WAFU dressings and mayos has launched the first ever simultaneous cross-border accredited investor equity crowdfunding round through CircleUp in the United States and Optimize Capital Markets in Canada,
WAFU Inc. is pleased to announce that it has launched the first ever simultaneous cross-border (Canada-US) accredited investor equity crowdfunding offering by a Canadian company. The cross-border raise will be offered online via Optimize Capital Markets in Canada and CircleUp in the United States, allowing Canadian and US accredited investors the opportunity to purchase shares of WAFU through registered online equity crowdfunding platforms in each of their respective countries.
“We have launched this groundbreaking cross-border equity crowdfunding offering in order to allow our loyal consumers in the United States and Canada to be able to participate economically in the continued success of the WAFU products that they love,” said WAFU CEO Gil Michel-Garcia. WAFU Inc. is looking to place $1,000,000 Series A-3 Preferred Shares with “accredited investors” as defined under applicable securities laws in the US and Canada.
“Given the ongoing success of our WAFU products and the recent listings of our products at Walmart Canada, Sobeys Ontario, Loblaw’s Ontario and Western Canada and Federated Co-Op in Western Canada, we thought that the time was right to raise additional capital in order to fully take advantage of these growth opportunities. Assuming that we raise the capital that we need, we expect that these new listings will allow us to deliver top line growth of more than 50% next fiscal year,” indicated Mr. Michel-Garcia.
THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY OF THE SECURITIES OF WAFU INC. IN THE UNITED STATES, CANADA OR ANY OTHER JURISDICTION. NONE OF THE SECURITIES OF WAFU INC. HAVE BEEN OR WILL BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “U.S. SECURITIES ACT“) AND MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF U.S. PERSONS EXCEPT IN CERTAIN TRANSACTIONS EXEMPT FROM THE REGISTRATION REQUIREMENTS OF THE U.S. SECURITIES ACT.
THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION AND/OR DISSEMINIATION IN ANY OTHER JURISDICTION.
Caution Regarding Forward Looking Information
WAFU’s public communications may include forward-looking statements within the meaning of applicable securities laws in Canada and the United States. Forward-looking statements, by their nature, are based on assumptions and are subject to important risks and uncertainties. Forward-looking statements cannot be relied upon due to, amongst other things, changing external events and general uncertainties of the business. Actual results may differ materially from results indicated in forward-looking statements due to a number of factors, including without limitation, the effect of general economic conditions, decreases in demand for WAFU’s products, increases in raw material costs, fluctuations in selling prices, adverse changes in general market and industry conditions, the ability to reduce operating costs and secure financing, employee and labour relations, currency exchange, interest rates and competition. Any forward-looking statements contained in this news release represent WAFU’s expectations as of the date of this news release and are subject to change after such date. However, WAFU disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.