Olivier Primeau Investit 200000 $ et Vise 2.2 Million $
Prime Drink, with olivier primeau at the center of the deal, is launching a private placement to raise between $1.2 million and $2.2 million after reaching an agreement with its creditors. The company said $1 million of the net proceeds will go to finalize that settlement, while the rest will support general corporate needs.
Prime Drink and Triani
Olivier Primeau said he will personally invest $200,000 in the fundraising. “Après plus d’un an à vivre avec le dossier Triani, à négocier, à trouver des solutions et à traverser des moments qui n’ont pas toujours été faciles, nous pouvons finalement tourner la page,” he said in an excerpt from his message published Friday.
Prime Drink said the settlement should let it lift guarantees tied to the Triani file and refocus its activities on beverages, influencer media, and hospitality. That shift follows more than a year of pressure around Triani, a highly caffeinated beverage producer Prime Drink acquired in the fall of 2024.
Prime Drink’s $26.6 Million Hit
$26.6 million was the write-down Prime Drink recorded in its most recent financial statements linked to Triani assets. Prime Drink had injected millions of dollars into the business in an effort to turn around operations, but Triani’s finances deteriorated quickly and ended in a receivership and then a bankruptcy.
In 2023, Health Canada ordered a recall of Prime Drink beverages because they contained 200 mg of caffeine per can, above the permitted 180 mg limit. “Je ne l’aurais pas fait si je ne croyais pas profondément à l’avenir de l’entreprise,” Primeau said of his own $200,000 commitment.
What the Funding Covers
Between $1.2 million and $2.2 million is the target range for the placement, and the structure shows how the company is trying to repair the balance sheet without waiting for a larger recapitalization. One million dollars is earmarked for the creditor settlement; the remaining funds are designated for corporate needs that keep the business moving after the Triani write-down.
For shareholders, the immediate issue is whether the fundraising closes near the top of the range and whether the creditor deal removes enough baggage to let Prime Drink move on from Triani. The company has already taken the accounting hit, and now it is trying to turn that loss into a cleaner operating base.
