Spot Coffee (Canada) Ltd. (TSXV:SPP) announced a private placement of up to 10,000,000 units at an issue price of CAD 0.05 per unit for gross proceeds of CAD 500,000 on January 25, 2021. Each unit consist of one common share and one-half of one common share purchase warrant. Each warrant will entitle the holder to purchase one additional common share at a price of CAD 0.075 for a period of 24 months from the initial closing date subject to an acceleration clause to the effect that if at any time the closing trading price of the common shares on the TSX Venture Exchange is CAD 0.09 or more for a period of 30 consecutive days and the company will be entitled to notify all holders of warrants of its intention to force the exercise of the warrants and to issue a press release to such effect, following which the holders of warrants shall have 30 days from the date of the press release to exercise the warrants. All securities to be issued pursuant to the transaction are subject to a statutory hold period of four months in accordance with applicable securities laws. The transaction is expected to close in one or more tranches and is subject to receipt of approval from the TSX Venture Exchange.