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Redishred Announces Closing Of Its $8.6 Million Bought Deal Financing Including Full Exercise Of Over-Allotment Option

Dec 23, 2021•over 3 years ago

Amount Raised

$8.6 Million

Mississauga

Description

Redishred Capital Corp. (TSXV:KUT) ("Redishred" or the "Company") is pleased to announce it has closed its previously announced bought deal public offering of common shares of the Company ("Common Shares") through a syndicate of underwriters co-led by Acumen Capital Finance Partners Limited ("Acumen") and Echelon Capital Markets and including Cormark Securities Inc. and PI Financial Corp. (collectively, the "Underwriters")

Company Information

Company

Redishred

Location

Mississauga, Ontario, Canada

About

Redishred Capital Corp. is the owner of the PROSHRED® trademarks and intellectual property in the United States and Internationally. PROSHRED® shreds and recycles confidential documents and proprietary materials for thousands of customers in the United States in all industry sectors. PROSHRED® is a pioneer in the mobile document destruction and recycling industry and has the ISO 9001:2015 certification. It is PROSHRED®'s vision to be the ‘system of choice' and provide shredding and recycling services on a global basis. PROSHRED® currently services over 40 markets in the United States. Redishred Capital Corp. grants PROSHRED® franchise businesses in the United States and by way of license arrangement in the Middle East. Redishred Capital Corp. also operates fourteen corporate shredding businesses directly. The Company's plan is to grow its business by way of both franchising and the acquisition and operation of document destruction businesses that generate stable and recurring cash flow through a scheduled client base, continuous paper recycling and concurrent unscheduled shredding service.