WhereDaily News: Eastside Distilling Completes $2.2 Million Private Placement of Common Stock

PORTLAND, OR--(Marketwired - Jan 5, 2015) - Eastside Distilling, Inc. (OTCQB: ESDI), an innovative and fast-growing premium producer of hand-crafted spirits, announced today that it has successfully completed a private placement of 5,512,500 shares of its common stock to certain institutional and accredited investors at a price of $0.40 per share, raising gross proceeds of approximately $2,205,000. The net cash proceeds to the company will be used for the build-out of Eastside's new manufacturing facility, marketing expenses, repayment of indebtedness, and for working capital and general corporate purposes.

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