- Simply Better Brands (SBBC) has closed the first tranche of its $7 million private placement
- The first tranche consisted of 20,020,000 units priced at $0.25 for gross proceeds of $5,005,000
- The company intends to use the capital for new product development, channel expansion, geographic expansion, debt reduction and general corporate working capital purposes
- Simply Better Brands leads an international omni-channel platform with assets in the plant-based and holistic wellness consumer product categories
- Simply Better Brands (SBBC) is down by 8.75 per cent, trading at $0.365 per share
Simply Better Brands (SBBC) has closed the first tranche of its $7 million private placement.
The first tranche consisted of 20,020,000 units priced at $0.25 for gross proceeds of $5,005,000.
Each unit consists of one common share and one-half of one common share purchase warrant.
Each warrant entitles the holder to acquire one common share priced at $0.45 for two years following the closing of the financing.
Insider participation in the tranche came to $175,000.
The company intends to use the capital for new product development, channel expansion, geographic expansion, debt reduction and general corporate working capital purposes.
All securities issued are subject to a four-month hold period and TSXV acceptance.
Simply Better Brands expects to close the second tranche for gross proceeds of $1,995,000 on or about February 21, 2023.
Simply Better Brands leads an international omni-channel platform with assets in the plant-based and holistic wellness consumer product categories, including CBD, plant-based food and beverage, pet care and skin care.
Simply Better Brands (SBBC) is down by 8.75 per cent, trading at $0.365 per share as of 10:32 am EST.
