Back to Newsroom
Back to Newsroom

Poko Innovations, Inc. Announces $500,000 Financing

Monday, August 15, 2022 10:20 AM
Poko Innovations Inc

Not for distribution to U.S. Newswire Services nor for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. Securities laws.

$258K First Tranche Completed

LONDON, UK and DUBLIN, IRELAND / ACCESSWIRE / August 15, 2022 / (POKO:CSE) Poko Innovations, Inc., an award-winning UK-based collection of CBD-focused companies that bring innovative, inspiring solutions to the CBD industry through the company's leading platforms which, when working together, form a complete ecosystem, is pleased to announce the closing of a first tranche of $258,918 of a non-brokered private placement offering (the "Offering") of its common shares (each, a "Share") at a price of $0.04 per Share for a total gross proceeds of up to $650,000.

"Proceeds of this Offering will be used to roll out and market our award-winning products in Ireland, the UK and the EU," said POKO Chief Operating Officer Justine O' Hanlon "and we of course have our eye on markets beyond Ireland, Britain and the EU, this capital will give us the boost we need to undertake a real expansion into these new markets and just in time for the holidays. Our bestselling Rosewater Toner won a Silver Medal in the 'Toners, Waters, and Spritzers' category and has scooped up a Bronze Medal in the ‘Free From Achievement' category at the 11th annual "Free From" Skincare Awards, and our Regenerating Collagen Moisturizer won an Editor's Prize at the Beauty Shortlist Mama & Baby Awards. This financing comes at a perfect time, following a number of significant awards that demonstrate the quality of our products and the success of our ongoing efforts to build a global brand."

"After much due diligence in the CBD space, we decided to provide capital to Poko because of its innovative products and marketing innovations," said William Reinhardt, Managing Partner, 108 Susses, LLC. "We looked at a lot of CBD companies and decided to work with POKO because of the incredible quality of their products, which contain neither alcohol nor silicone, and they are vegan and cruelty-free. The company has made great strides in getting its products distributed and building its brand, and we're delighted to support the company as it goes from strength to strength and, ultimately, profitability."

All securities issued of the Offering will be subject to a statutory hold period of four months plus a day from the closing date of each tranche of the Offering in accordance with applicable securities legislation

About The Poko Group, Ltd.

The Poko Group is listed on the CSE under POKO and is a collection of CBD-focused companies that bring innovative, inspiring solutions to the CBD gummies UK industry through the company's leading brand Canndid www.canndid.co.uk CBD Gummies UK as well as skincare through Poko. The Poko Group is an award-winning UK CBD company that has developed a unique business model comprising complete "turnkey solutions," including fintech payment processing and white label opportunities. Poko plans to export its signature products to the EU and the USA. For more information, please visit https://www.pokogroup.com/.

Forward-Looking Statements

With the exception of the historical information contained in this news release, the matters described herein, may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements preceded by, followed by, or that otherwise, include the words "believes," "expects," "anticipates," "intends," "projects," "estimates," "plans" and similar expressions or future or conditional verbs such as "will," "should," "would," "may" and "could", are generally forward-looking in nature and not historical facts, although not all forward-looking statements include the foregoing. These statements, involve unknown risks and uncertainties that may individually or materially impact the matters discussed, herein for a variety of reasons that are outside the control of the company, including, but not limited to, the company's ability to raise sufficient financing to implement its business plan, the impact of the COVID-19 pandemic on the company's business, operations and the economy in general, and the Company's ability to successfully develop and commercialize its proprietary products and technologies. Readers are cautioned not to place undue reliance on these forward-looking statements, as actual results could differ materially from those described in the forward-looking statements contained herein. Readers are urged to read the risk factors set forth in the company's filings with the SEC, which are available at the SEC's website (www.sec.gov). The company disclaims any intention or obligation to update, or revise, any forward-looking statements, whether as a result of new information, future events or otherwise.

Investor Relations

Michael J. Porter, President
Porter, LeVay & Rose, Inc.
T: (973) 865-9357
E: [email protected]

SOURCE: Poko Innovations Inc.

Topic:
Financing
Back to newsroom
Back to Newsroom