DavidsTea Offers 3.33 Million Shares at 90 Cents in Private Placement

Private Placement Details: DAVIDsTEA has secured subscription agreements for a private placement totaling $3 million, issuing 3,333,334 units at $0.90 each, which will consist of one common share and one-half of a common share purchase warrant.

Use of Proceeds: The funds raised will be utilized to open new stores across Canada and to support working capital requirements.

Warrant Conditions: Each full warrant allows the purchase of an additional common share at $1.25 for one year and $1.50 for the following year, with potential expiration conditions based on share price performance.

Investor Participation: Pembroke Heritage Fund Limited and Jane Silverstone Segal, Chair of the Board, each subscribed for 50% of the units, amounting to $1.5 million each, with the placement expected to close by November 21, 2025.