SBBC:CC - Shares Higher as Firm Raises Revenue Guidance

2024-07-11 12:26:51 ET

This company’s mission is to disrupt the emerging %PlantBased consumer space, and a recent investor update is sending shares higher this Thursday.

%SimplyBetterBrands Corp. (TSXV: ) (OTC: ) offers disruptive brands in emerging plant-based, holistic wellness and lifestyle consumer products. Today, the firm announced in a press release a corporate update on its progress to date and priorities going forward for its TRUBAR products.

Simply Better Brands has increased its full-year 2024 revenue guidance for TRUBAR TM to USD $45 - $50 million from a previous range of USD $40 -45 million. This change was based on the continued expansion of its North American distribution footprint, growth in its e-commerce business as well as an anticipated increase in new distribution from 5,000 to 9,500 additional retail stores by the end of the third quarter. This new distribution will bring TRUBAR's store count to over 12,000 retail stores.

The firm also announced an additional credit facility. In late morning trade, Canadian shares were up around 6 percent.