Eat Well Investment Group (EWGFF) signed an agreement to settle approximately $45 million of recorded obligations through cash and share issuances. The September 25, 2026 agreement would discharge a $41,620,369 obligation tied to net profits interest shares, which carry rights to redeem for common shares. Kaha Foods would surrender those interests for cancellation in exchange for 5,000,000 common shares.
Another $3,341,739 in accrued compensation would settle for $100,252 cash, payable by December 31, 2026, and 2,339,218 common shares. Both share issuances use a deemed price of $0.10. After issuance, approximately 186,000,366 common shares would be outstanding, versus a potential 243,692,974 following full redemption of the interests. Settling parties' loans and interest remain outstanding. An independent committee recommended the related-party agreement; Patrick Dunn will resign as CFO and director at closing.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Eat Well Investment Group Inc. (CNSX:EWG, US:EWGFF) has entered into non-binding term sheets for refinancing credit facilities totaling up to $40MM with the Business Development Bank of Canada and a private lender. This refinancing is expected to decrease interest expenses significantly, enhancing cash flow by approximately $1.9MM annually. The refinancing includes a secured loan of $22.5MM at 5.65% over 20 years and converts $8MM of existing debt into a convertible loan with a 15% interest rate.
Eat Well Group, through its subsidiary Belle Pulses, announced strong financial results for Q3 2022, featuring record gross profit of $2,903,217, a 60.3% year-over-year increase. EBITDA rose to $1,978,956, marking a 61.3% increase from the prior year. The company’s total assets also grew by 7.5% to $63,907,968. For 2023, revenue guidance is set between $115MM and $135MM, with adjusted EBITDA expected between $9MM and $14MM. Amara Infant Nutrition reported a 147% increase in revenue, reflecting strong market performance and expansion initiatives.
Eat Well Group forecasts combined profitability with an Adjusted EBITDA of $4.0-5.0 million for 2022. The operational update highlights strong performance from Belle Pulses, Amara Organic Foods, and Sapientia Technology LLC.
Belle Pulses reports continued demand and margin expansion, while Amara expands its presence to 100 club stores by year-end. Sapientia aims for 700 outlets by December 2022. The company plans to uplist to the TSX in Q4 2022, with insider ownership exceeding 76%, underscoring confidence in business growth.
Eat Well Investment Group has appointed Dr. Bernhard van Lengerich to its Advisory Board, enhancing its expertise in the plant-based investment sector. With a PhD in Food/Biotechnology and leadership roles at companies like General Mills and Beyond Meat, Dr. van Lengerich will assist in advancing the company's foodtech initiatives. Additionally, Eat Well Group has secured an additional $6.5 million in credit facilities, bringing the total availability to $40 million to support growth and working capital.
Eat Well Group's subsidiary, Belle Pulses, reported record financial results for Q2 2022, achieving $15,176,692 in revenue, a 6.8% increase year-over-year. Gross profit soared by 59.6% to $2,032,199, while net earnings surged 295.8% to $1,370,279. These results are attributed to post-COVID market recovery and demand for plant-based foods amid global food security concerns. The company also closed a strategic investment of $5,017,999.50 and resumed its normal course issuer bid for up to 7,686,777 shares.