Vancouver, British Columbia--(Newsfile Corp. - November 3, 2022) - Boosh Plant-Based Brands Inc. (CSE: VEGI) (OTCQB: VGGIF) (FSE: 77i) ("Boosh" or the "Company") a premier plant-based brand in the "better for you" food sector, announces that it has arrange a non-brokered private placement to raise up to up to $500,000 through the issuance of up to 10,000,000 units (each a "Unit") at a price of $0.05 per Unit (the "Offering"). Each Unit will comprise of one common share and one share purchase warrant (a "Warrant"). Each Warrant shall be exercisable to acquire one Common Share (a "Warrant Share") for a period of 12 months.
Directors and officers of the Company may acquire Units in the Financing, which participation would be considered to be a "related party transaction" as defined under Multilateral Instrument 61-101 ("MI 61-101"). Such participation is expected to be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101.
Finder's fees may be paid to registered dealers or other qualified parties in connection with the Financing.
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The net proceeds from the Offering will be used for working capital and general corporate purposes as the company works towards increasing annual gross revenues for the core asset, Beanfields, back up to its pre pandemic levels of $15M USD per year. The Company continues to receive close to $1M USD monthly in Purchase Orders for Beanfields Chips and requires this additional operating capital to pay for the purchase of raw materials and production. With the purchase orders and high demand for products the focus is on revenue creation and shareholder value.
Amuse Boosh plant-based cheese and Vege pate has recently been listed at Urban Fare and the entire line of 7 varieties will be available in all of their fine locations in BC. Urban Fare is owned by Jim Pattison Group and considered an upscale market with a focus on organic, high end and imported foods.
Boosh shelf stable Mac n Cheese continues to grow in popularity and production of this line has been moved to the company's Amuse Boosh facility in Penticton BC to streamline production.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available
Telephone: 778 840 1700
About Boosh Plant-Based Brands Inc.:
Boosh Plant-Based Brands Inc., through its wholly owned subsidiary, Boosh Food (www.booshfood.com) offers high quality, non-GMO, gluten free, 100% plant-based nutritional comfort foods for the whole family. Through a separate subsidiary, Beautiful Beanfields, (www.beanfields.com) the Company owns Beanfields, a plant-based chip brand sold in over 7,000 stores throughout North America. Boosh, good for you and good for planet earth.
The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward looking statements. Forward-looking statements in this news release include, but are not limited to, the Company's expectations concerning the size of the Financing, its ability to close the Financing in whole or in part or at all and its plan for the proceeds of the Financing. Any number of factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although the Company believes that the expectations reflected in forward looking statements are reasonable, it can give no assurances that the expectations of any forward looking statements will prove to be correct. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
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