CANADA: Delicious Alternative Desserts completes financing, $1.1 million private placement debenture
Delicious Alternative Desserts Ltd. ("DAD"), a licensed manufacturer, distributor and marketer of premium and super premium ice cream and frozen dessert products, announced today that on Friday, November 17, 2000 it arranged to place privately a 10% secured subordinated debenture with a sophisticated investor in Ontario. The debenture will have a three-year term and will mature on November 10, 2003. It carries with it warrants to purchase 2.2 million shares with an exercise price of $0.15 per share to November 10, 2001, $0.20 per share to November 10, 2002 and $0.25 thereafter until November 1, 2003.
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