This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

CRAiLAR Receives CAD$2.0 Million Private Placement From Hydra Ventures B.V.

PORTLAND, OR, Dec. 19, 2013 /PRNewswire/ - CRAiLAR Technologies Inc. (TSXV: CL) (OTCQB: CRLRF), which produces and markets CRAiLAR® Flax fiber The Friendliest Fiber On The Planet™, today announced that it has finalized negotiations to enter into a proposed CAD$2.0 million private placement investment (the "Private Placement") with Hydra Ventures B.V., the corporate venture arm of the adidas Group (FRA: ADS).

In conjunction with the proposed Private Placement, Hydra Ventures has agreed to subscribe for up to 3,333,333 units of the Company (each a "Unit"), at a proposed subscription price of CAD$0.60 per Unit, with each Unit being comprised of one common share and one common share purchase warrant of the Company with each warrant being exercisable for a period of five years from closing at an exercise price of CAD$0.70 per warrant common share.

Proceeds from the proposed Private Placement will be utilized for general corporate and working capital purposes.

"We are very pleased that adidas Group's Hydra Ventures have invested in CRAiLAR," said Ken Barker, CEO. "As a global leader in the advancement of sustainability and sports performance, we believe that our relationship with such an iconic sports company will help deliver a CRAiLAR brand and product message to some of the most loyal consumers on the planet."

In conjunction with the completion of the proposed Private Placement certain Company creditors have agreed to extend the term of their current loans to the Company (the "Extension") and, in consideration thereof, one such Company creditor and director will receive an aggregate of 181,666 bonus common shares of the Company, at a deemed issuance price of CAD$0.60 per common share, for such Extension (the "Bonus Share Issuance").

Each of the proposed Private Placement and Bonus Share Issuance by the Company is subject to definitive documentation and prior TSX Venture Exchange approval to the completion thereof.

Stock quotes in this article: CL, CRLRF 

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
DOW 16,262.56 +89.32 0.55%
S&P 500 1,842.98 +12.37 0.68%
NASDAQ 4,034.1610 +11.4670 0.29%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs