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PK Beans $BEAN Joins Faire.com, a Wholesale Marketplace to Grow Its Omni-Channel Distribution Model. Closes Private Placement of Convertible Debenture Units $LULU

Posted by AGORACOM-JC at 9:17 AM on Thursday, April 15th, 2021
  • joined Faire, an online wholesale retail marketplace. Fast Magazine names Faire among “The 10 most innovative retail companies of 2020”.
  • Fast Magazine names Faire among “The 10 most innovative retail companies of 2020
  • Faire allows PK Beans to expand their omni-channel business model and have greater exposure and access to 150,000 retailers across North America.

Vancouver, British Columbia–(April 15, 2021) – Peekaboo Beans Inc.https://agoracom.com/ir/PKBeans (CSE: BEAN) (OTC Pink: PBBSF) (“PK Beans” or the “Company”) is pleased to share that they have joined Faire, an online wholesale retail marketplace. Fast Magazine names Faire among “The 10 most innovative retail companies of 2020”.

Faire allows PK Beans to expand their omni-channel business model and have greater exposure and access to 150,000 retailers across North America. Faire marketplace allows for PK Beans to continue to support and maintain all current wholesale relationships, while being able to offer these customers the net terms provided by Faire; providing customers greater breathing room and more incentive to purchase PK Beans; during an otherwise difficult time in retail due to the ever growing and changing impacts of the COVID-19 Pandemic.

“We are excited reach new retailers and support more grassroots retail brands in communities across North America. Faire makes it easy and accessible to reach these business to business customers, and this adds another arm to our omni channel sales model,” states Traci Costa, PK Beans CEO and Founder.

PK Beans also wishes to announce the closing of its previously disclosed private placement of convertible debenture units for total gross proceeds of $110,000 (the “Offering“). The Company raised $110,000 through the issuance of 110 convertible debenture units at a price of $1,000 per convertible debenture unit. Each convertible debenture unit was comprised of one unsecured convertible debenture with a principal amount of $1,000 each and 5,000 common share purchase warrants. Each warrant entitles the holder thereof to acquire on common share of the Company at a price of $0.15 per share until April 9, 2023. The debentures will mature and be repayable on April 9, 2023 and bear interest at a rate of 12% per annum until maturity.

The net proceeds of the Offering will be used for general working capital purposes. The terms of the Offering are further described in the Company’s news release dated April 8, 2021.

All securities issued in connection with the Offering are subject to a statutory hold period expiring on August 10, 2021 in accordance with applicable securities legislation.

Read More: https://agoracom.com/ir/PKBeans/forums/discussion/topics/759107-pk-beans-joins-faire-com-a-wholesale-marketplace-to-grow-its-omni-channel-distribution-model-closes-private-placement-of-convertible-debenture-units/messages/2312080#message

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