Montréal-based WAFU Inc., a producer of Japanese food dressings, has raised gross proceeds of about $230,000 through the issuance of shares via the U.S.-based crowd-funding platform CircleUp. The company, which claims to be the first Canadian business to close an equity crowd-funding round in the United States via CircleUp, said the investment also helped to bring in American angel investors to support its continued growth.
WAFU Inc. Closes First Ever Equity Crowdfunding round by a Canadian Company in the United States.
WAFU Inc. has closed the first ever accredited investor equity crowdfunding by a Canadian company in the United States via CircleUp.
Montreal, Quebec, Canada (PRWEB) June 08, 2013
WAFU Inc. is pleased to announce that it has closed the first ever accredited investor equity crowdfunding by a Canadian company in the United States via CircleUp, a leading U.S. equity crowdfunding platform for accredited investors to invest in private consumer product companies in the United States.
“With the completion of this ground breaking U.S. equity crowdfunding round, we have not only been able to raise some of the capital that we need to continue to expand across Canada and the United States, but have also been able to attract experienced consumer packaged goods U.S. angel investors into our shareholder base who, we believe, will be invaluable in helping us to continue to grow our brand in the United States and increase the sales of our products in the U.S. through our new U.S. e-commerce site http://www.wafushop.com.” said WAFU CEO Gil Michel-Garcia.
WAFU Inc. raised gross proceeds of approximately $230,000 through the issuance of Series A-2 Preferred Shares and/or Series A-3 Preferred Shares to a small number of “accredited investors.”
All shares issued under the private placement are subject to a four month hold period from the date of issuance in Canada and are “restricted securities” subject to certain additional transfer restrictions in the United States.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities of WAFU Inc. in the United States or any other jurisdiction. None of the securities of WAFU Inc. have been or will be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act.
This news release is intended for distribution outside of Canada only and is not intended for distribution to Canadian newswire services or for dissemination in Canada.
About WAFU Inc.
WAFU Inc. (previously Mari’s Foods Inc.) is a Canadian privately held corporation based in Montreal, Quebec, Canada. Founded in 2006, WAFU Inc. develops, produces and distributes a line of Japanese dressings and Japanese mayos under the WAFU® brand name. WAFU® Japanese dressings are currently the leading brand of Japanese dressings in the Province of Quebec.
Photo courtesy of Shutterstock.