- Happy Belly Food Group (HBFG) signs lead order for above-market convertible note for $1 million
- The company is expecting to see continual growth in the coming years
- Happy Belly Food has been busy expanding the distribution of its Holy Crap Cereal and Oatmeal
- All securities issued in connection with the closing of the private placement are subject to a four-month and one-day statutory hold period
- Currently, the close date is slated for March 30, 2023, or sooner
- Happy Belly Food Group (HBFG) is trading at C$0.18 at 2:10 pm EST
Happy Belly Food Group (HBFG) signed a deal for $1 million from a strategic investor.
The company is expecting to continue to grow well into the future. Focusing on building a suite of emerging brands.
“Receiving this kind of support […] allows us to accelerate both our organic and inorganic growth in 2023. We look forward to further strengthening our relationship with this strategic investor to support future accretive M&A opportunities as they present themselves,” said Sean Black, Chief Investment Officer of Happy Belly.
“This is our second consecutive above-market convertible debenture. This demonstrates the market support for this management team despite the current challenging times for many companies attempting to raise capital,” concluded Black.
Happy Belly Food has been busy with expanding its distribution of its Holy Crap Cereal and Oatmeal.
Some of the company’s highlights for January included more distribution through Thrifty Foods, Faire in Canada and the US, in addition to Whole Foods in Western Canada locations.
Specifically speaking for Whole Foods, the company added SKUs in all seven stores for its All-Natural Blend.
Support through debenture
Each debenture is $1,000 with a 36-month term earning interest at the rate of 12 per cent per annum, payable quarterly after the closing date.
All securities issued in connection with the closing of the private placement are subject to a four-month and one-day statutory hold period in accordance with applicable securities laws.
Currently, the close date is slated for March 30, 2023, or sooner.
Happy Belly Food Group is a consolidator of emerging food brands, responsible for Yam Chops, Lumber Heads, Heal Wellness, Holy Crap, Ladyt Glaze Doughnuts and more.
Happy Belly Food Group (HBFG) is trading at C$0.18 at 2:10 pm EST.
