Eat & Beyond Announces Non-Brokered Private Placement
Eat & Beyond Global Holdings Inc. (CSE: EATS) (OTCPK: EATBF) (FSE: 988) is thrilled to introduce a new non-brokered private placement financing aiming to enhance its commitment to sustainability and the alternative protein sector.
Details of the Private Placement Offering
This offering consists of up to 12,121,213 units at a purchase price of C$0.0825 per unit, generating up to C$1,000,000 for the company. Each unit includes one common share and one share purchase warrant.
Notably, the warrants grant holders the right to purchase additional shares at a price of C$0.11 for a period of 24 months from issuance.
Utilization of Proceeds
The funds raised through this offering will be strategically allocated for general corporate purposes as well as future investments, particularly focusing on the company's crypto strategy. This includes potential investments in notable cryptocurrencies like Solana and Dogecoin.
Eat & Beyond aims to ensure transparency by fully disclosing these investments prior to any transactions.
Finder’s Fees and Related Transaction Guidelines
For this non-brokered offering, the company plans to compensate finders with fees of up to 7.0% of the gross proceeds from units sold. Additionally, eligible finders will receive non-transferable warrants corresponding to 7.0% of the total units sold, enabling them to acquire shares at C$0.10 each for a 24-month period.
Regulatory Compliance and Relevant Approvals
Completing this offering is contingent upon receiving all necessary corporate and regulatory approvals, including from the Canadian Securities Exchange. Furthermore, all issued securities will observe a statutory hold period of four months plus one additional day as per applicable securities law.
Participation of Insiders
It is expected that insiders of Eat & Beyond may also partake in this offering. Such insider participation will be deemed a related party transaction according to Multilateral Instrument 61-101. In this context, the company will utilize exemptions concerning formal valuation and minority shareholder approval requirements.
The Vision of Eat & Beyond
Eat & Beyond is dedicated to identifying and investing in global companies that are at the forefront of innovative food technology and sustainability initiatives. As Canada’s pioneering investment issuer in this sector, Eat & Beyond enables retail investors to engage in a diverse range of opportunities promoting a smarter and secure food supply.
Contact Information for Further Inquiries
For any inquiries regarding this offering or the company itself, please reach out to Young Bann, CEO, at (778) 887-8912 or email at young@purposeesg.com.
Frequently Asked Questions
What is the purpose of the private placement announced by Eat & Beyond?
The private placement aims to raise funds for general corporate purposes and investments, particularly in the cryptocurrency sector.
How many units is Eat & Beyond offering?
Eat & Beyond is offering up to 12,121,213 units at a price of C$0.0825 per unit.
What will each unit consist of?
Each unit will comprise one common share and one share purchase warrant.
How long can warrants be exercised?
Warrants can be exercised for a period of 24 months following issuance.
How can interested parties get more information about the company?
Interested individuals can contact Young Bann, CEO, directly via phone or email for more information.
