Clearly Canadian Beverage Corp. (OTCBB:CCBEF) announced that it has raised $3.5 million from a series of private placements.
The Vancouver-based beverage distributor, which also has $7.5 million in cash reserves, plans to use the proceeds of the private placements to boost its marketing and explore new product development.
Clearly Canadian markets beverages under the Clearly Canadian brand.
The company, which has sold more than two billion bottles worldwide, recently acquired DMR Food Corp., marking its initial foray into organic and natural products.
Clearly Canadian share price range during the past week: between $2.95 and $2.75; 52-week high: $4.55; 52-week low: $2.