EAT & BEYOND ANNOUNCES CLOSING OF NON-BROKERED PRIVATE PLACEMENT OF UNITS AND ANNOUNCES DEBT SETTLEMENT
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, B.C., Jan. 17, 2025 (GLOBE NEWSWIRE) — Eat & Beyond Global Holdings Inc. (CSE: EATS) (OTCPK: EATBF) (FSE: 988) (“Eat & Beyond” or the “Company”), an investment issuer focused on sustainability and alternative protein sector, announces that further to its news releases dated November 28, 2024 and January 15, 2025, the Company is pleased to announce that it has closed the previously announced non-brokered private placement of units of the Company (the “Units”) by the issuance of 11,141,090 Units at a price of C$0.0825 per Unit for gross proceeds to the Company of C$919,140.00 (the “Offering”).
Each Unit consists of one common share (each a “Share”) and one Share purchase warrant (each a “Warrant”). Each Warrant will entitle the holder thereof to acquire one additional Share at a price of C$0.11 per Share, for a period of 24 months from the date of issuance.
The Company plans to use the proceeds of the Offering for general corporate purposes, marketing and future investment opportunities such as pursue its crypto strategy including potential investments in Solana, Dogecoin and other currencies. See New release dated November 13, 2024 for the Company’s expansion strategy. Such investments will be fully disclosed before proceeding with any transactions.
Concurrent with the closing of the Offering, the Company has issued 3,030,303 Shares at a deemed issuance price of C$0.0825 per Share for settlement of an outstanding bona fide debt in an aggregate amount of $250,000 (the “Debt”) owing to a service provider (the “Creditor”).
All securities issued in connection with the Offering and to the Creditor are subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation ending on May 18, 2025.
About Eat Beyond
Eat & Beyond is an investment issuer that identifies and makes equity investments in global companies that are developing and commercializing innovative food tech and sustainability. Led by a team of 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 and sustainability sectors, and access companies that are leading the charge toward a smarter, more secure food supply.
Learn more: https://eatbandeyond.com/
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release and has neither approved nor disapproved the contents of this press release.
For further information: For further information, please contact Young Bann, CEO, young@purposeesg.com.
This press release includes “forward-looking information” that is subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Forward-looking statements may include but are not limited to, the use of proceeds and available funds following the completion of the Offering, and are subject to all of the risks and uncertainties normally incident to such events. Investors are cautioned that any such statements are not guarantees of future events and that actual events or developments may differ materially from those projected in the forward- looking statements. Such forward-looking statements represent management’s best judgment based on information currently available. No securities regulatory authority has either approved or disapproved of the contents of this news release. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.
