DAVIDsTEA Closes $3.0 Million Private Placement

MONTREAL, Nov. 19, 2025 (GLOBE NEWSWIRE) — DAVIDsTEA Inc. (TSX-Venture: DTEA) (“DAVIDsTEA” or the “Company”), a leading North American tea merchant, is pleased to announce that it has closed its previously-announced private placement of units in an aggregate amount of $3 million (the “Private Placement”). Proceeds from the Private Placement will be used to open new stores across Canada and to support working capital requirements.

In the Private Placement, DAVIDsTEA issued 3,333,334 units at a price of $0.90 per unit, for proceeds of $3 million. Each unit consists of one common share and one-half of a common share purchase warrant. Each full warrant entitles its holder to purchase one additional common share of DAVIDsTEA at a price of $1.25 for one year from the closing date of the Private Placement and at a price of $1.50 for one year thereafter. In the event that at any time following the date that is four months and one day from the closing date of the Private Placement, the closing price of DAVIDsTEA’s common shares on the TSX Venture Exchange is at least $2.00 for a period of not less than 20 consecutive trading days, the warrants will expire, at the sole discretion of the Company, on the 30^th day after the date on which the Company sends a notice in prescribed form to the holders of the warrants. DAVIDsTEA did not pay any commissions or other fees in connection with the Private Placement. The shares and warrants issued in the Private Placement are subject to restrictions on resale for a period of four months ending March 20, 2026.

Caution Regarding Forward-Looking Statements

This press release includes statements that express DAVIDsTEA’s opinions, expectations, beliefs, plans or assumptions regarding future events or future results, and that are, or may be deemed to be, “forward-looking statements” within the meaning of applicable Canadian securities law. These forward-looking statements can generally be identified by the use of forward-looking terminology, including the terms “believes”, “expects”, “may”, “will”, “should”, “approximately”, “intends”, “plans”, “estimates” or “anticipates” or, in each case, their negatives or other variations or comparable terminology. These forward-looking statements include all matters that are not historical facts and include statements regarding the Company’s intentions, beliefs or current expectations.

While DAVIDsTEA believes its opinions and expectations are based on reasonable assumptions, such forward-looking statements are inherently subject to risks, uncertainties and assumptions about the Company, including the risk factors discussed in Management Discussion and Analysis of Financial Condition and Results of Operations for the fiscal year ended February 1, 2025, filed with the Autorité des marchés financiers on May 28, 2025, which could materially affect the Company’s business, financial condition or future results.

About DAVIDsTEA
DAVIDsTEA offers a specialty branded selection of high-quality proprietary loose-leaf teas, pre-packaged teas, tea sachets, tea-related accessories and gifts through its e-commerce platform at www.davidstea.com and the Amazon Marketplace, its wholesale customers which include over 4,000 grocery stores and pharmacies, over 1,500 convenience stores in Canada and over 900 grocery stores in the United States, as well as 20 company-owned stores across Canada. It offers primarily proprietary tea blends that are exclusive to the Company, as well as traditional single-origin teas and herbs. The team’s passion for and knowledge of tea permeates the Company’s culture and is rooted in an excitement to explore the taste, health and lifestyle elements of tea. With a focus on innovative flavours, wellness-driven ingredients and organic tea, the Company launches seasonally driven “collections” with a mission of making tea fun and accessible to all. The Company is headquartered in Montréal, Canada.