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 $1.20per 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.