14 March, 2007

USA: Granite City Food & Brewery Ltd. sells $14 mil of common stock

Granite City Food & Brewery Ltd. announced that it has sold $14,002,737 of common stock in a private placement transaction, according to company’s press release, March 8.

The company issued 2,617,334 shares of common stock at $5.35 per share. The net proceeds of the offering will be used for working capital, for certain capital expenditures and to retire certain equipment lease debt.

The foregoing securities have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

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