Else Nutrition Announces CSE Conditional Approval
Rhea-AI Summary
Else Nutrition (OTCQX:BABYF) received conditional approval to list its common shares on the Canadian Securities Exchange (CSE). The listing remains subject to CSE approval and customary conditions, with no assurance it will be obtained.
The company plans US$310,000 in additional funding with Lind Global Fund III LP, a 10-for-1 share consolidation, and settlement of $207,000 of debt via common shares at a post-consolidated price of $0.15 per share. Else Nutrition is targeting July 7 for trading commencement on the CSE, conditional on final filings, financing, debt settlement and consolidation.
AI-generated analysis. Not financial advice.
Positive
- Conditional approval obtained to list common shares on the CSE
- Planned additional US$310,000 funding with Lind Global Fund III LP
- Plan to settle $207,000 of debt through share issuance
- Targeted CSE trading start date of July 7, subject to conditions
Negative
- CSE listing remains conditional with no assurance of final approval
- 10-for-1 share consolidation required for CSE listing
- Debt settlement via new shares implies equity dilution for existing holders
- Completion of financing, debt settlement and consolidation required before CSE trading
In connection with the conditional listing, the Company is working to complete an additional funding of
In connection with the listing on the CSE, the Company will complete a share consolidation on the basis of 10 existing shares for each 1 new share. In addition the Company will settle
The Company is targeting a trading date of July 7 for the commencement of trading on the CSE, subject to meeting completing final filings with the CSE, and completing the above noted financing, debt settlement and the share consolidation.
About Else Nutrition Holdings Inc.
Else Nutrition Holdings Inc. is a food and nutrition company in the international expansion stage focused on developing innovative, clean, and plant-based food and nutrition products for infants, toddlers, children, and adults. Its revolutionary, plant-based, non-soy formula is a clean-ingredient alternative to dairy-based formulas. Since launching its Plant-Based Complete Nutrition for Toddlers, made of whole foods, almonds, buckwheat, and tapioca, the brand has received thousands of powerful testimonials and reviews from parents, gained national retailer support, and achieved rapid sales growth.
Awards and Recognition:
- "2017 Best Health and Diet Solutions" award at Milan's Global Food Innovation Summit
- #1 Best Seller on Amazon in the Fall of 2020 in the New Baby & Toddler Formula Category
- "Best Dairy Alternative" Award 2021 at World Plant-Based Expo
- Nexty Award Finalist at Expo West 2022 in the Plant-Based lifestyle category
- During September 2022, Else Super Cereal reached the #1 Best Seller in Baby Cereal across all brands on Amazon
For more information, visit www.elsenutrition.com or @elsenutrition on Facebook and Instagram.
Neither the TSX nor its regulation services provider (as that term is defined in the policies of the TSX) accept responsibility for the adequacy or accuracy of this release.
Caution Regarding Forward-Looking Statements
This press release contains statements that may constitute "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements are typically identified by words such as "will" or similar expressions. Forward-looking statements in this press release include statements with respect to the Company's application to list its common shares on the CSE, the receipt of approval of the CSE listing application, obtaining funding from Lind Global Fund III LP, the continued trading of the Company's common shares and warrants on the TSX pending such listing, and the delisting of the Company's common shares and warrants from the TSX. Such forward-looking statements reflect current estimates, beliefs, and assumptions, which are based on management's perception of current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. No assurance can be given that the foregoing will prove to be correct. Actual results may differ from the estimates, beliefs, and assumptions expressed or implied in the forward-looking statements. Readers are cautioned not to place undue reliance on any forward-looking statements, which reflect management's expectations only as of the date of this press release. The Company disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.
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SOURCE Else Nutrition Holdings Inc.