- Billy Goat (GOAT) has nearly doubled its investment in Evanesce, a sustainable packaging company
- The company exercised 50-per-cent more purchase warrants as part of an Evanesce incentive program
- Evanesce produces compostable straws and other packaging items out of the U.S. and has plans to go public later this year
- Billy Goat Brands is a venture capital platform focused on the food and beverage industry
- Billy Goat Brands (GOAT) is up by 4.55 per cent trading at $0.115 per share
Billy Goat (GOAT) has nearly doubled its investment in Evanesce, a sustainable packaging company.
The company exercised 50-per-cent more purchase warrants as part of an Evanesce incentive program.
Evanesce produces compostable straws and other packaging items with manufacturing plants in South Carolina and Nevada. The company is also expanding to manufacture compostable cups and cutlery.
In March, it produced approximately 40M compostable straws at its South Carolina facility and approximately 90M total straws in Q1 2022, all of which have been sold.
The packaging company plans to list its shares in 2022 on either the TSX or the NASDAQ market on the back of significant expected growth in YoY revenue due to increased business with professional sports teams and theme parks.
“Evanesce is an innovative company in which GOAT management has always believed,” said Tony Harris, Billy Goat’s CEO. “By exercising our incentive warrants, we are continuing to invest in Evanesce and are also committed to supporting its emergence as a leader and innovator in the sustainable packaging industry.”
Billy Goat Brands is a venture capital platform focused on high-potential companies operating in plant-based protein, functional foods, food technology and sustainable packaging.
Billy Goat Brands (GOAT) is up by 4.55 per cent trading at $0.115 per share as of 10:25 am EST.