Mezzi Brand Group (TSX-V: MZI), a Canadian consumer accessory brand management company, has agreed to access a draw-down equity facility of up to $4 million. The investor is Alumina Partners, a U.S. private equity firm. Vancouver-based Mezzi, which specializes in luxury leather handbags and accessories, will use the proceeds of the deal to grow and scale its brands portfolio and potentially make acquisitions. The company is led by Chairman and CEO Keir Reynolds.
Mezzi Secures $4 Million Equity Facility with New York Private Equity Firm Alumina Partners LLC
VANCOUVER, BC / ACCESSWIRE / November 1, 2016 / Mezzi Holdings Inc. (“MEZZI”, “MEZZI BRAND GROUP” or the “Company”) (TSX-V: MZI, FRA: 0MZ) is pleased to announce that, on October 31, 2016, the Company entered into a non-binding agreement for a draw-down equity facility of up to $4,000,000. Each Offering will occur exclusively at the option of the Company, throughout the 24-month term of the agreement.
The agreement provides for equity private placement offerings, to be conducted between MEZZI and Alumina Partners LLC (“Alumina Partners”), a New York-based private equity firm.
Pursuant to the terms of the Offerings, Alumina Partners will commit to purchase up to $4,000,000 of units of the Company (the “Units”), consisting of one common share (the “Shares”) and one common share purchase warrant (the “Warrants”). The placement will be at a discount of 20% of the market price of the Shares. The exercise price of the Warrants will be at a 25% premium over the market price of the Shares. The completion of a definitive agreement is anticipated later this month.
“We are very pleased to be entering into this agreement with Alumina Partners. The purpose of the Offerings is to provide the Company with a strong funding partner and to allow MEZZI to focus on growth of its portfolio of brands and potential acquisitions,” commented Keir Reynolds, Chief Executive Officer.
“Alumina is excited to continue investing in Canadian issuers,” said Adi Nahmani, Managing Member of Alumina Partners LLC. “We are very pleased to enter into this investment agreement with MEZZI. Their combination of fast-growing, millennial brand-building through social influencers and a veteran, freshly-bolstered management team positions them extremely well for further revenue growth and a roll-up of other accessory brands in an industry poised for consolidation.”
About MEZZI BRAND GROUP
MEZZI Brand Group is a Vancouver-based consumer accessory brand management company. We believe that great brands are built one great product and one valued customer at a time. We have gathered a group of young talented experts ranging from accessory design, product development, marketing, branding, e-commerce, digital media and PR to build and scale our millennial-customer focused brands. A well-defined, strategic philosophy and clear mission statement promotes and protects MEZZI Brand Group’s most valuable assets – our brands – MEZZI Smart Luxury, Capital Eyewear and MLine Cases.
For further information, please contact:
Mr. Keir Reynolds
Tel: (778) 998-9242
ON BEHALF OF THE BOARD
Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.
Photo courtesy of Mezzi Brand Group