Canada: Russell Breweries Inc. arranges C$562,500 financing

Canadian beer maker, Russell Breweries Inc., announced on June 9 that it has agreed to a private placement consisting of the sale of 1,500,000 common shares of its capital for C$0.375 each, according to the Canadian Corporate Newswire. The proceeds of the private placement will be used for business expansion and general working capital.

The private placement will be conducted by members of Allea Venture Capital Partners, Inc., a Vancouver based venture capital firm that specializes in Canadian emerging growth investment opportunities.

"The Company has grown rapidly since January 2004 when the brewery was acquired. This investment will assist in maintaining this momentum," said Brian Harris, CEO, Russell Breweries Inc. "Allea Venture Capital Partners Inc. shares our vision and has expressed interest in providing future funding for additional business expansion opportunities."

Through its wholly owned subsidiary, Russell Brewing Company Ltd., Russell Breweries Inc. produces premium draught beer for fine pubs and eateries in British Columbia. Using all natural ingredients and traditional beer-making techniques, Russell beer is brewed for people who love beer. Products include: Russell Cream Ale, Russell Pale Ale, Russell Honey Blonde Ale, Russell Extra Special Lager, plus the two seasonal brews, Russell Lemon Ale and Russell Christmas Ale.

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