Simply Better Brands Corp. Upsizes Non-Brokered Private Placement Up to $7 Million

Simply Better Brands Corp.
Simply Better Brands Corp.

VANCOUVER, British Columbia, Feb. 07, 2023 (GLOBE NEWSWIRE) -- Simply Better Brands Corp. ("SBBC" or the "Company") (TSX Venture: SBBC) (OTCQB: PKANF) is pleased to announce that, in response to investor demand, the Company has increased the size of the non-brokered private placement announced on January 26, 2023.

The revised terms of the non-brokered private placement is for up to 28,000,000 units (“Units”) at a price of $0.25 per Unit for ‎aggregate gross proceeds of up to $7,000,000 (the “Offering”). The Offering is expected to include participation from VRG Capital and other strategic investors. In addition, it is expected that Kathy Casey, Chief Executive Officer and an insider of the Company, will also participate in the Offering.

Each Unit will consist of one common share of the Company (“Common Share”) and one-half of one common share ‎purchase warrant (each whole such common share purchase warrant, a “Warrant”‎). Each Warrant shall be exercisable into one additional Common Share at an exercise price of $0.45 ‎per Warrant for twenty-four months from closing‎ of the Offering.

It is anticipated that the net proceeds of the Offering will be used for new product development, channel expansion, geographic expansion, debt reduction and general corporate working capital purposes.

The Offering is scheduled to close on or about February 10, 2023, or such other date as determined by the Company, and is subject to certain conditions including, ‎but not limited to receipt of TSX Venture Exchange acceptance.

The Company may pay certain eligible finders a finder’s fee comprised of a cash commission of up ‎to 7% of the gross proceeds of the Offering and non-transferable finder’s warrants equal to up to 7% of ‎the aggregate number of Units sold under the Offering. Such finder’s warrants shall entitle the holder to acquire one ‎Unit of the Company at a price of $0.25 for a period of 24 months from the Closing ‎Date.‎

Subject to compliance with applicable regulatory requirements and in accordance with ‎National Instrument 45-106 Prospectus Exemptions (“NI 45-106”),‎ the Offering is being made to purchasers resident in all provinces of Canada, except Quebec, the United States and in certain foreign jurisdictions. All securities issued in connection with the Offering will be subject to a hold period of four months from the date of closing.

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall ‎there be any sale of any securities in any jurisdiction in which such offer, solicitation, or sale would ‎be unlawful including any of the securities in the United States of America. The securities have not ‎been and will not be registered under the United States Securities Act of 1933, as amended (the ‎‎“1933 Act”), or any state securities laws and may not be offered or sold within the United States or ‎to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) ‎unless registered under the 1933 Act and applicable state securities laws, or an exemption from ‎such registration requirements is available.‎

About Simply Better Brands Corp.

Simply Better Brands Corp. leads an international omni-channel platform with diversified assets in the emerging plant-based and holistic wellness consumer product categories. The Company’s mission is focused on leading innovation for the informed Millennial and Generation Z generations in the rapidly growing plant-based, natural, and clean ingredient space. The Company continues to focus on expansion into high-growth consumer product categories including CBD, plant-based food and beverage, and the global pet care and skin care industries. For more information on Simply Better Brands Corp., please visit:

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

Simply Better Brands Corp.
Brian Meadows
Chief Financial Officer
+1 (855) 553-7441

Forward-Looking Information

Certain statements contained in this news release constitute "forward-looking information" and "forward looking statements" as such terms are used in applicable Canadian securities laws. Forward-looking statements and information are based on plans, expectations and estimates of management at the date the information is provided and are subject to certain factors and assumptions, including, among others, that the Company’s financial condition and development plans do not change as a result of unforeseen events, the impact of the COVID-19 pandemic, the regulatory climate in which the Company operates, and the Company’s ability to execute on its business plans. Specifically, this news release contains forward-looking statements relating to, but not limited to: statements relating to the successful closing of the Offering and anticipated timing thereof and the intended use of proceeds.

Forward-looking statements and information are subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking statements and information. Factors that could cause the forward-looking statements and information in this news release to change or to be inaccurate include, but are not limited to, the risk that any of the assumptions referred to prove not to be valid or reliable, that occurrences such as those referred to above are realized and result in delays, or cessation in planned work, that the Company’s financial condition and development plans change, ability to obtain necessary regulatory approvals for the transaction, as well as the other risks and uncertainties applicable to the CBD or broader wellness industries and to the Company, and as set forth in the Company’s annual information form available under the Company’s profile at

There is no representation by the Company that actual results achieved will be the same in whole or in part as those referenced in the forward-looking statements and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities law.