VANCOUVER, BC, March 7, 2023 /CNW/ – Eat & Beyond Global Holdings Inc. (CSE: EATS) (OTCPK: EATBF) (FSE: 988) (“Eat&Beyond” or the “Company”), an investment issuer focused on the global plant-based and alternative protein sector, is pleased to announce a non-brokered private placement of a 4,152,700 common shares (the “Shares”) of the Company, on a post-consolidation basis, at the price of $0.20 per Share (post-consolidation) for gross proceeds of $830,540 (the “Offering”). The Shares will be offered for sale in each of the provinces and territories of Canada, except Quebec.
The Company intends to use the proceeds raised from the Offering for investment opportunities, marketing and for general corporate purposes. The Offering is expected to close on or before March 28, 2023. The closing of the Offering is subject to certain conditions including, but not limited to, 100% of the Offering being subscribed for and receipt of all necessary approvals including the approval of the Canadian Securities Exchange.
The Offering is being completed pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 Prospectus Exemptions and therefore the Shares issued in the Offering will not be subject to a hold period in accordance with applicable Canadian securities laws. There is an offering document related to the Offering that can be accessed under the Company’s profile at www.sedar.com and at https://eatandbeyond.com/. Prospective investors should read this offering document before making an investment decision.
The securities issued pursuant to the Offering have not, nor will they be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons in the absence of U.S. registration or an applicable exemption from the U.S. registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.
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About Eat Beyond
Eat Beyond is an investment issuer that makes it easy to invest in the future of food. Eat Beyond identifies and makes equity investments in global companies that are developing and commercializing innovative food tech as well as plant-based and alternative food products. Led by a team of food industry experts, Eat Beyond is the first issuer of its kind in Canada, providing retail investors with the unique opportunity to participate in the growth of a broad cross-section of opportunities in the alternative food sector, and access companies that are leading the charge toward a smarter, more secure food supply.
Learn more: https://eatbandeyond.com/
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The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.
The Canadian Securities Exchange has not in any way passed upon the merits of the Offering and has neither approved nor disapproved the contents of this press release.
Disclaimer for Forward-Looking Information
This news release includes certain forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities legislation. The use of any of the words “expect”, “anticipate”, “continue”, “estimate”, “objective”, “may”, “will”, “project”, “should”, “believe”, “plans”, “intends” and similar expressions are intended to identify forward-looking information or statements. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company. Although the Company believes that the expectations and assumptions on which such forward- looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct. In this news release, forward looking statements include but are not limited to, information concerning the timing and completion of the Offering, the use of proceeds of the Offering, the timing and anticipated receipt of required regulatory approval for the Offering and other customary closing conditions.
For further information: For media inquiries, please contact: Brittany@Exvera.com; For investment inquiries, please contact: Info@Eatbeyondglobal.com; For further information, please contact Michael Aucoin at Info@Eatbeyondglobal.com or (604) 416-4099