(TheNewswire)
Vancouver, British Columbia, Canada – July 26, 2024– TheNewswire – bettermoo(d) Food Corporation (CSE: MOOO), (OTCQB: MOOOF),(Frankfurt: 0I5A, WKN: A3D8PP) (the “ Company ” or“ bettermoo(d) ”) announces revised terms for its non-brokered privateplacement previously announced on May 3, 2024 (the “ Private Placement ”). The Private Placement will now consist of up to2,857,142 units (each, a “ Unit ”) at a price of $0.70 per Unit, forgross proceeds of up to $2,000,000. Each Unit will consist of one (1)common share of the Company (each, a “ Share ”) and one (1)common share purchase warrant exercisable at a price of $0.88 perShare for a period of five (5) years from issuance. The Companyintends to utilize the proceeds of the Private Placement to supportits existing operations, projects and for general working capitalpurposes.
The Company does not anticipate paying any finder’sfees related to the Private Placement. Closing of the PrivatePlacement remains subject to certain conditions including, but notlimited to, receipt of all necessary regulatory approvals. Pursuant toapplicable securities laws, all securities issued under the PrivatePlacement will be subject to a statutory hold period of four monthsand one day.
The Company will issue Shares equal to 1.0% of thenumber of Units issued in the Private Placement (“ Admin Fee Shares ”)to Amalfi Corporate Services Ltd. (“ Amalfi ”) as anadministrative fee for Amalfi’s assistance with the PrivatePlacement. Amalfi is a private company controlled by Geoff Balderson,CFO, corporate secretary and a director of the Company, and anissuance of Admin Fee Shares to Amalfi is considered to be a“related party transaction” as defined under MultilateralInstrument 61-101 – Protection of Minority Security Holders in SpecialTransactions (“ MI 61-101 ”). TheCompany is relying on the exemptions from the valuation and minorityshareholder approval requirements of MI 61-101 contained in sections5.5(a) and 5.7(1)(a) of MI 61-101, as the fair market value of theissuance of the Admin Fee Shares issued to Amalfi will not exceedtwenty- five percent (25%) of the market capitalization of theCompany, as determined in accordance with MI 61- 101.
The securities to be issued pursuantto the Private Placement have not been, nor will they be, registeredunder the United States Securities Act of 1933, as amended, and maynot be offered or sold within the United States or to, or for theaccount or benefit of, U.S. persons in the absence of U.S.registration or an applicable exemption from the U.S. registrationrequirements. This news release shall not constitute an offer to sellor the solicitation of an offer to buy nor shall there be any sale ofthe securities in the United States or in any other jurisdiction inwhich such offer, solicitation or sale would be unlawful .
ABOUT BETTERMOO(D) FOODCORPORATION
bettermoo(d) Food Corporation is an innovativeplant-based dairy alternative food and beverage company based inVancouver, British Columbia Canada, launching Moodrink™, anutritious dairy-alternative beverage with a revolutionary flavour.Moodrink™ includes a blend of herbs and flowers similar to what cowsate, before the time of mass livestock production. Like rich dairyproducts, Moodrink™ contains added healthy plant fats and vitamins,so consumers don’t miss out. The “Moodrink” is just thebeginning of the revolution for the Vancouver based dairy-alternativecompany, bettermoo(d).
Driven by the motto “What A Cow Eats and A HumanNeeds” bettermoo(d) seeks to produce dairy alternative products thatare good for both people and the planet – ensuring that all productsare nutritious and sustainably sourced, and that also emulate thegreat taste of traditional milk from the Alps regions of Switzerland,France and Austria. Working with food scientists, the Company’sgoal is to conduct continuous food research anddevelopment programs with the aim of rolling out a full line of dairyalternative products, including Moogurt and B u etter, as well as many other products,that are better for YOU and better for the planet.
ON BEHALF OF THE BOARD ofDIRECTORS
Nima Bahrami
Chief Executive Officer and Director
bettermoo(d) Food Corporation
For furtherinformation please contact:
Email: investors@bettermoodfoodcorporation.com
Website: www.bettermoo.com
Phone: 1-855-715-1865
This news release may contain certain forward lookingstatements and forward looking information (collectively,“Forward-Looking Statements”) within the meaning of the applicableCanadian and U.S. securities laws, including the United States PrivateSecurities Litigation Reform Act of 1995. All statements, other thanstatements of historical fact, included herein including, withoutlimitation, statements with respect to the anticipated use of theproceeds from the Private Placement, are forward-looking statements.When or if used in this news release, the words “anticipate”,“believe”, “estimate”, “expect”, “target, “plan”,“forecast”, “may”, “schedule” and similar words orexpressions identify forward-looking statements or information. Suchstatements represent the Company's current views with respect tofuture events and are necessarily based upon a number of assumptionsand estimates that, while considered reasonable by the Company, areinherently subject to significant business, economic, competitive,political and social risks, contingencies and uncertainties. Manyfactors, both known and unknown, could cause results, performance, orachievements to be materially different from the results, performanceor achievements that are or may be expressed or implied by suchforward-looking statements. The Company does not intend, and does notassume any obligation, to update these forward-looking statements orinformation to reflect changes in assumptions or changes incircumstances or any other events affecting such statements andinformation other than as required by applicable laws, rules andregulations. The CSE does not acceptresponsibility for the adequacy or accuracy of this release.
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