Prime Drink Group Raises $5.3M in Private Placement

Dominion Water Reserves (TSE:PRME) has released an update.

Prime Drink Group Corp. has successfully closed the first tranche of its non-brokered private placement, raising $5.3 million as part of a strategic acquisition of Triani Canada Inc. They also announced a stock consolidation plan, converting each five existing shares into one post-consolidation share. The funds raised are held in escrow, with conditions set for automatic conversion of the subscription receipts into common shares.

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