Else Nutrition Announces Closing of C$5 Million Offering of Units
21 Novembro 2023 - 4:26PM
ELSE NUTRITION HOLDINGS INC.
(BABY)
(BABYF)
(0YL.F) ("Else" or the
"Company"), the Plant-Based baby, toddler, and
children nutrition company today announces that it has closed its
previously announced offering of Units (the “Units”) of the Company
(the “Offering”). Pursuant to the Offering, the Company issued a
total of 13,000,000 Units at a price of C$0.385 per Unit for gross
proceeds of C$5,005,000.
Each Unit is comprised of one common share in
the capital of the Company and one common share purchase warrant.
Each warrant is exercisable to acquire one common share at a price
of C$0.485 until November 21, 2028.
The Company plans to use the net proceeds from
the Offering to fund research and development, fund sales and
marketing, acquire inventory, and for general corporate
purposes.
A.G.P. Canada Investments ULC acted as the sole
agent and bookrunner for the Offering and received a cash
commission equal to 7% of the aggregate gross proceeds of the
Offering and 650,000 common share purchase warrants exercisable at
$0.485 per share until November 21, 2026.
In connection with the Offering, the Company
filed a prospectus supplement dated November 21, 2023, to its short
form base shelf prospectus dated November 10, 2023, with the
securities commissions in each of the provinces of Canada,
excluding Quebec. Copies of the supplement and the base shelf
prospectus are available on SEDAR+ at www.sedarplus.ca.
This news release shall not constitute an offer
to sell or the solicitation of an offer to buy securities in the
United States, nor shall there be any sale of the securities in any
jurisdiction in which such offer, solicitation or sale would be
unlawful. The securities to be offered have not been and will not
be registered under the United States Securities Act of 1933, as
amended (the “U.S. Securities
Act”) or under any securities laws of any state of
the United States, and may not be offered or sold in the United
States or to, or for the account or benefit of, U.S. persons,
absent registration or an applicable exemption from the
registration requirements of the U.S. Securities Act and applicable
securities laws of any state of the United States. “United States”
and “U.S. persons” are as defined in Regulation S under the U.S.
Securities Act.About Else Nutrition Holdings
Inc.
Else Nutrition Holdings Inc. (TSX: BABY, OTCQX:
BABYF, FSE: 0YL) is a food and nutrition company in the
international expansion stage focused on developing innovative,
clean, and plant-based food and nutrition products for infants,
toddlers, children, and adults. Its revolutionary, plant-based,
non-soy formula is a clean-ingredient alternative to dairy-based
formulas. Since launching its Plant-Based Complete Nutrition for
Toddlers, made of whole foods, almonds, buckwheat, and tapioca, the
brand has received thousands of powerful testimonials and reviews
from parents, gained national retailer support, and achieved rapid
sales growth.
Awards and Recognition:
-
"2017 Best Health and Diet Solutions" award at Milan's Global Food
Innovation Summit
-
#1 Best Seller on Amazon in the Fall of 2020 in the New Baby &
Toddler Formula Category
-
“Best Dairy Alternative” Award 2021 at World Plant-Based Expo
-
Nexty Award Finalist at Expo West 2022 in the Plant-Based lifestyle
category
-
During September 2022, Else Super Cereal reached the #1 Best Seller
in Baby Cereal across all brands on Amazon
Investor Relations Contact:
Alexandra SchiltCrescendo Communications,
LLCOffice: (212) 671-1020 Ext:
305Email: aschilt@crescendo-ir.com
TSX
Neither the TSX nor its regulation services
provider (as that term is defined in the policies of the TSX)
accept responsibility for the adequacy or accuracy of this
release.
Caution Regarding Forward-Looking
Statements
This press release contains statements that may
constitute "forward-looking statements" within the meaning of
applicable securities legislation. Forward-looking statements are
typically identified by words such as "will" or similar
expressions. Forward-looking statements in this press release
include statements with respect to the use of the proceeds from the
Offering. Such forward-looking statements reflect current
estimates, beliefs, and assumptions, which are based on
management's perception of current conditions and expected future
developments, as well as other factors management believes are
appropriate in the circumstances. No assurance can be given that
the foregoing will prove to be correct. Forward-looking statements
made in this press release assume, among others, the expectation
that there will be no interruptions or supply chain failures as a
result of COVID-19 and that the manufacturing, broker, and supply
logistic agreement with the company does not terminate. Actual
results may differ from the estimates, beliefs, and assumptions
expressed or implied in the forward-looking statements. Readers are
cautioned not to place undue reliance on any forward-looking
statements, which reflect management's expectations only as of the
date of this press release. The company disclaims any obligation to
update or revise any forward-looking statements, whether as a
result of new information, future events, or otherwise, except as
required by law.
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