/NOT FOR DISTRIBUTION TO U.S. NEWS
WIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES/
VANCOUVER, BC, April 17,
2024 /CNW/ - Simply Better Brands Corp. (TSXV: SBBC)
(OTCQB: PKANF) ("SBBC" or the "Company") is pleased
to announce a non-brokered private placement of up to
5,714,285 units of the Company (the "Units") at a price
of $0.35 per Unit, for aggregate
gross proceeds of up to $2,000,000
(the "Offering").
The Company intends to use the net proceeds of the Offering to
support the growth and continued market expansion of TRUBAR protein
bars sold by its subsidiary, Tru Brands Inc., to a growing list of
major retailers and through online channels across North America. Proceeds will also be used for
general corporate and working capital purposes.
Each Unit will consist of one (1) common share in the capital of
the Company (each, a "Share") and one-half of one Share
purchase warrant (each whole warrant, a "Warrant"). Each
Warrant will entitle the holder thereof to purchase one (1)
additional Share at an exercise price of $0.45 per Share for a period of 24 months
following the closing of the Offering.
The Offering is being conducted pursuant to the listed issuer
financing exemption under Part 5A of National Instrument 45-106 –
Prospectus Exemptions. As a result, the securities issued
under the Offering will not be subject to resale restrictions
pursuant to applicable Canadian securities laws. Subject to
applicable regulatory requirements, the Units will be offered for
sale to purchasers resident in Canada (other than Québec) and other
qualifying jurisdictions.
The closing of the Offering is expected to occur on or about
April 25, 2024, and is subject to
certain conditions including, but not limited to, the receipt of
all necessary approvals, including the conditional approval from
the TSX Venture Exchange (the "TSXV"). The Company may
engage one or more agents or finders in connection with the
Offering and may pay such parties fees as may be agreed between the
Company and such parties.
There is an offering document relating to the Offering of the
Units that can be accessed under the Company's profile at
www.sedarplus.ca and on the Company's website at
https://www.simplybetterbrands.com/news-releases. Prospective
investors should read the offering document before making an
investment decision.
About Simply Better Brands
Corp.
Simply Better Brands Corp. leads an international omni-channel
platform with diversified assets in the emerging plant-based and
holistic wellness consumer product categories. The Company's
mission is focused on leading innovation for the informed
Millennial and Generation Z generations in the rapidly growing
plant-based wellness, natural, and clean ingredient space. The
Company continues to focus on expansion into high-growth consumer
product categories including plant-based food, clean ingredient
skincare and plant-based wellness. For more information on Simply
Better Brands Corp., please visit:
https://www.simplybetterbrands.com/investor-relations.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy any securities in the United States or any other jurisdiction in
which such offer, solicitation or sale would be unlawful. No
securities may be offered or sold to, or for the account or benefit
of persons in the United States or
to any U.S. persons or in any other jurisdiction in which such
offer or sale would be unlawful absent registration under the U.S.
Securities Act of 1933, as amended (the "U.S. Securities Act"), and
any applicable state securities laws or an exemption therefrom or
qualification under the securities laws of such other jurisdiction
or an exemption therefrom. "United States" and "U.S. persons" shall
have the meaning given to them in Regulation S under the U.S.
Securities Act.
Cautionary Note Regarding
Forward-Looking Information
Certain statements in this press release constitute
"forward-looking information" and "forward-looking statements"
(collectively, "forward-looking statements") within the meaning of
applicable Canadian securities laws and are based on assumptions,
expectations, estimates and projections as of the date of this
press release. Forward-looking statements in this press release
include statements with respect to, among others, the Company's
business strategy, plans and other expectations, beliefs, goals,
objectives, and information and statements about possible future
events, including the amount proceeds raised under the Offering,
the intended use of proceeds of the Offering, the expected closing
date of the Offering, and the approval of the TSXV and any other
regulatory approvals with respect to the Offering. Forward-looking
statements are often, but not always, identified by words or
phrases such as "expects", "is expected", "anticipates",
"believes", "plans", "projects", "estimates", "assumes", "intends",
"strategies", "targets", "goals", "mission", "forecasts",
"objectives", "budgets", "schedules", "potential" or variations
thereof or stating that certain actions, events or results "may",
"could", "would", "might" or "will" be taken, occur or be achieved,
or the negative of any of these terms and similar
expressions. Forward-looking statements are necessarily based
upon management's perceptions of historical trends, current
conditions and expected future developments, as well as a number of
specific factors and assumptions that, while considered reasonable
by the Company as of the date of such statements, are outside of
the Company's control and are inherently subject to significant
business, economic and competitive uncertainties and contingencies
which could result in the forward-looking statements ultimately
being entirely or partially incorrect or untrue. Forward-looking
statements contained in this press release are based on various
assumptions and factors, including, but not limited to, the
following: the assumption that the TSXV will approve the Offering,
assumptions with respect to the gross proceeds of and the closing
of the Offering; and that the risk factors noted below,
collectively, do not have a material impact on the Company's
business, operations, revenues and/or results. By their nature,
forward-looking statements are subject to inherent risks and
uncertainties that may be general or specific and which give rise
to the possibility that expectations, forecasts, predictions,
projections or conclusions will not prove to be accurate, that
assumptions may not be correct, and that objectives, strategic
goals and priorities will not be achieved. Known and unknown risk
factors, many of which are beyond the control of the Company, could
cause the actual results of the Company to differ materially from
the results, performance, achievements or developments expressed or
implied by such forward-looking statements. Such risk factors
include but are not limited to those factors which are discussed
under the headings "Factors Affecting the Company's Performance" in
the Company's most recent management's discussion and analysis and
"Risks and Uncertainties" in the Company's management discussion
and analysis for the year ended December 31,
2021, which are available under the Company's SEDAR+ profile
at www.sedarplus.com. The risk factors are not intended to
represent a complete list of the factors that could affect the
Company and the reader is cautioned to consider these and other
factors, uncertainties and potential events carefully and not to
put undue reliance on forward-looking statements. There can be no
assurance that forward-looking statements will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such statements.
Forward-looking statements are provided for the purpose of
providing information about management's expectations and plans
relating to the future. The Company disclaims any intention or
obligation to update or revise any forward-looking statements
whether as a result of new information, future events or otherwise,
or to explain any material difference between subsequent actual
events and such forward-looking statements, except to the extent
required by applicable law. All of the forward-looking statements
contained in this press release are qualified by these cautionary
statements.
SOURCE Simply Better Brands Corp.