bettermoo(d) Announces Update to Terms of Non-Brokered Private Placement
Vancouver, British Columbia, Canada – June 1, 2023 – bettermoo(d) Food Corporation (CSE: MOOO), (OTCQB: MOOOF), (Frankfurt: 0I5A, WKN: A3D8PP) (the “Company” or “bettermoo(d) Food”), announces the cancellation of its non-brokered private placement as previously announced on May 5, 2023 and the announcement of new private placement terms (the “Financing”).
The Financing will now consist of up to 1,287,554 units (each, a “Unit”) at a price of $2.33 per Unit for gross proceeds of up to $3,000,000. Each Unit will consist of one (1) common share (each, a “Share”) and one-half of one (1/2) common share purchase warrant exercisable at a price of $3.50 per Share for a period of thirty-six (36) months from issuance. The Company may pay finders’ fees to eligible third-parties which have assisted in introducing subscribers to the Financing. All securities issued in connection with the Financing will be subject to a statutory hold period for four-months-and-one-day following issuance in accordance with applicable securities laws.
The Company intends to utilize the proceeds of the Financing to support its existing operations, projects and for general working capital purposes.
The Financing remains subject to certain conditions including, but not limited to, receipt of all necessary approvals including the approval of the Canadian Securities Exchange.
The securities to be issued pursuant to the Private Placement have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons in the absence of U.S. registration or an applicable exemption from the U.S. registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.
ABOUT BETTERMOO(D) FOOD CORPORATION
bettermoo(d) Food Corporation is an innovative plant-based dairy alternative food and beverage company based in Vancouver, British Columbia Canada, with an established award-winning vegan cheese company located in in Europe, and an anticipated dairy-alternative beverage, Moodrink, that is set to launch across Canada in the early days of Summer 2023.
Driven by the motto “What A Cow Eats and A Human Needs” bettermoo(d) seeks to produce dairy alternative products that are good for both people and the planet – ensuring that all products are nutritious and sustainably sourced, and that also emulate the great taste of traditional milk from the Alps regions of Switzerland, France and Austria. Working with food scientists the Company’s goal is to conduct continuous food research and development programs with the goal of rolling out a full line of dairy alternative products that are better for YOU and better for the planet.
ON BEHALF OF THE BOARD of DIRECTORS
Chief Executive Officer and Director
bettermoo(d) Food Corporation
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The CSE does not accept responsibility for the adequacy or accuracy of this release.
This news release may contain certain forward looking statements and forward looking information (collectively, “Forward-Looking Statements”) within the meaning of the applicable Canadian and U.S. securities laws, including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein including, without limitation, statements with respect to the anticipated commercial production of Moodrink, 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 or expressions identify forward-looking statements or information. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.