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NuZee (d/b/a/ Coffee Blenders) completes $2.0 million equity financing

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VISTA, Calif., U.S. — NuZee, Inc. announced today that it has closed a $2.0 million private placement equity financing. The Company sold 111,738 shares of common stock at a price of $17.85 per share. These sales were conducted during the period October through November 2019. Net proceeds will be used for general corporate purposes.

All of the investors were non-U.S. persons (as that term is defined in Regulation S under the Securities Act of 1933, as amended) or accredited investors (as that term is defined in Regulation D under the Securities Act of 1933, as amended) and those investors purchased in transactions outside of the United States or exempt from the registration requirements of Securities Act pursuant to Rule 506, respectively. In issuing shares to those investors, we relied on the exemptions from the registration requirements provided for in Regulation S, Reg D and/or Section 4(2) of the Securities Act of 1933, as amended.

NuZee also announced that it has filed a registration statement on Form S-1 with the Securities and Exchange Commission (“SEC”) relating to a proposed public offering of shares of its common stock. The number of shares to be offered and the price range for the offering have not yet been determined. The Company plans to use the proceeds from this offering to support the expansion of its co-packing activities, invest in the development of its new co-packing hub in Plano, Texas, working capital needs, and other general corporate purposes.

The proposed offering will be made only by means of a prospectus. A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. Copies of the preliminary prospectus relating to the proposed offering may be obtained, when available, for free by visiting the SEC’s website at www.sec.gov. Alternatively, copies of the preliminary prospectus relating to the proposed offering may be obtained, when available, for free by contacting the Company at: shanoop@coffeeblenders.com. In addition, the proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the proposed offering may be completed.