Hong-Kong listed
H&H leads a $25.7M
investment in ELSE Nutrition
The global baby & adult nutrition
company increases its strategic capital stake in ELSE to $9.75M via
its subsidiary NewH2 Limited
VANCOUVER,
British Columbia, October,
13,
2020 -- InvestorsHub
NewsWire -- ELSE
NUTRITION HOLDINGS INC. (TSX-V:
BABY)
(OTCQX:
BABYF)
(FSE:
0YL)
("Else"
or the "Company"),
a
developer of plant-based alternatives to dairy-based baby
nutrition, is
announcing
today that NewH2 Limited, a
subsidiary of Health and Happiness (H&H) International Holdings
Limited, a Hong Kong Stock Exchange listed company
(1112.HK)
has increased their strategic investment in Else
by C$4.0
million pursuant to a non-brokered private placement announced on
September 15th.
The
Company intends to use the proceeds of the
offering to market its novel, plant-based
baby and toddler nutrition products in North America
alongside
new
product development operations.
Furthermore, the
investment provides
the Company with the ability to accelerate and increase its
production and supply capabilities, increase
marketing
activities and introduce
its
product(s)
in
new
territories
globally.
"We are
very excited to continue to expand our relationship with
H&H. They have been an immensely
valuable
partner
and we look forward to working with their team in new
market regions.
We
hear regularly from
families across the globe who are seeking a
non-dairy
nutrition
alternative
for their
children and
we
are fortunate to have a
global
partner
supporting our endeavours for introduction of
our products to store shelves in North America and beyond," said
Ms. Hamutal Yitzhak, CEO and Co-Founder of Else.
Pursuant
to the private placement the Company issued 2,224,111
(the
"Units") at a price of C$2.25 per Unit. Each Unit
consisting
of one
common share and 0.50 share purchase warrants, with each whole
warrant (a "Warrant") entitling the holder to acquire one
additional common share of the Company at an exercise price of
C$3.25 per share for a period of thirty months from the closing
date. With the completion
this financing
NewH2 owns
10,678,706
shares of
the Company and 3,114,121
warrants,
which
will represent approximately 11.6%
of the
Company's issued and outstanding common shares. The units
issued will be subject to a 12 month hold period from date of
closing.
The
Company also pleased to announce
that it has closed its previously announced upsized bought deal
public offering, lead by Canaccord
Genuity, of units (the
"Units")
for aggregate gross
proceeds of CAD$20.7 million, including the exercise of the
over-allotment option in full (the "Offering").
The Company issued 9,200,000 Units at a
price of CAD$2.25 per Unit, each Unit consisting of one common
share of the Company (a
"Share")
and one-half of one common share purchase warrant, with each whole
warrant (a "Warrant")
entitling the holder
to purchase one Share at the price of CAD$3.25 per Share until
October 6, 2022. The Company has
received approval from the TSX Venture Exchange
("TSXV")
to list the Warrants issued pursuant to the Offering, and the
Warrants are
posted
for trading on the TSXV under the ticker symbol "BABY.WT" effective
October 8, 2020.
Else
Nutrition's Plant-Based Complete Nutrition for Toddlers &
Babies (12+ mo.) is now available for sale on Else's e-store
at
elsenutrition.com, and will soon be
available on Amazon.com. Consumers can order single 22 oz cans and
4-packs.
About
Else Nutrition Holdings Inc.
Else
Nutrition GH Ltd. is an Israel-based food and nutrition company
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 formula. Else Nutrition (formerly INDI)
won the "2017 Best Health and Diet Solutions" award at the Global
Food Innovation Summit in Milan. The holding company, Else
Nutrition Holdings Inc., is a publicly
traded company, listed as TSX Venture Exchange under the trading
symbol BABY and is quoted on the US OTC Markets QX board under the
trading symbol BABYF and on the Frankfurt Exchange under the symbol
0YL. Else's Executives
includes leaders hailing from leading
infant nutrition companies. Many of Else advisory
board
members
had past executive roles in companies such as Mead Johnson, Abbott
Nutrition, Plum Organics and leading infant nutrition
Societies,
and some
of them currently serve in different roles in leading medical
centers and academic institutes such as Boston Children's Hospital,
Pediatrics at Harvard Medical School, USA, Tel Aviv University,
Schneider Children's Medical Center of Israel, Rambam Medical
Center and Technion, Israel and University Hospital Brussels,
Belgium.
For
more information, visit: elsenutrition.com or
@elsenutrition on Facebook and Instagram.
For more information, contact:
Ms.
Hamutal
Yitzhak, CEO, Co-Founder & Director
ELSE
Nutrition Holdings Inc.
E:
hamutaly@elsenutrition.com
P:
+972(0)3-6445095
Mr.
Sokhie Puar, Director of Else Nutrition
Email:
sokhiep@elsenutrition.com
Telephone:
604-603-7787
TSX Venture Exchange
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.
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
anticipated
dates for filing the Company's financial disclosure
documents.
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. Forward-looking
statements made in this press release assume, among others,
the expectation
that there
will be no interruptions or supply chain failures as a result of
COVID 19 and that the manufacturing, broker and supply logistic
agreement with the Company do not terminate.
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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