Source: CNW Group and Simply Better Brands.
  • 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.


More From The Market Online

Laurion Exploration to raise capital, and it’s worth every penny

Laurion Mineral Exploration (TSXV:LME) seeks to raise C$1.7 million through a flow-through private placement on a non-brokered basis.