pual
4 years ago
good natured Products Inc. Announces Closing of its $23.1 Million Bought Deal Offering & Debt Retirement - 03/04/2021 8:31:00 AM
/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./
VANCOUVER, BC, March 4, 2021 /CNW/ - good natured Products Inc. (the "Company" or "good natured®") (TSXV: GDNP), a North American leader in earth-friendly plant-based products, today announced that it has closed its previously announced bought deal short form prospectus offering of common shares of the Company (the "Offering"). Pursuant to the Offering, the Company issued 19,262,500 common shares in capital of the Company (the "Offered Shares") at an issue price of $1.20 per common share (the "Issue Price") for gross proceeds of $23,115,000.
The over-allotment option granted by the Company to the Underwriters to acquire up to 15% of the Offered Shares at the Issue Price exercisable in whole or in part at any time, and from time to time, up to 30 days following the closing of the Offering (the "Over-Allotment Option") was exercised concurrently with the closing of the Offering. The issuance of the 19,262,500 Offered Shares includes the 2,512,500 Offered Shares issued pursuant to the exercise of the Over-Allotment Option.
Beacon Securities Limited ("Beacon") and Canaccord Genuity Corp. acted as co-lead underwriters and co-bookrunners in connection with the Offering on behalf of a syndicate including Integral Wealth Securities Limited, Raymond James Ltd., and Paradigm Capital Inc. (the "Underwriters").
The Underwriters received a cash commission of $1,386,900 representing 6.0% of the aggregate gross proceeds of the Offering; and 1,155,750 compensation options (the "Compensation Options") representing 6.0% of the aggregate number of Offered Shares issued pursuant to the Offering. Each Compensation Option shall entitle the holder thereof to acquire one Offered Share at the Issue Price for a period of 24 months from the date hereof.
The net proceeds of the Offering are expected to be used by the Company for potential future acquisitions, general working capital purposes, and capital expansion projects.
Insiders of the Company subscribed for a total of 41,200 Offered Shares for total gross proceeds of $49,440 under the Offering. Participation by insiders constitutes a "related party transaction" as defined under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company is relying on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(1)(a) of MI 61-101, as neither the fair market value of the Offered Shares issued to such related parties nor the consideration paid by such related parties exceeded 25% of the Company's market capitalization. The Company did not file a material change report in respect of the related party transaction 21 days prior to the closing of the Offering as the details of the participation of insiders of the Company had not been confirmed at that time. Further details will be provided in a material change report to be filed by the Company subsequent to the dissemination of this press release.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933 (the "US Securities Act") or any states securities laws. They may not be offered or sold within the United States or to US Persons (as defined in Regulation S under the US Securities Act) unless registered under the US Securities Act and applicable state securities laws or an exemption from such registration is available.
Business Development Bank of Canada Debt Retirement
The Company also announced the closing of its transaction with BDC Capital inc., a subsidiary of the Business Development Bank of Canada ("BDC"), for the conversion of $2.5 million USD (at an exchange rate of $1.2753 CAD/USD, being the Bank of Canada end of day exchange rate of February 8, 2021) of the Company's existing long term credit facility into Offered Shares at the Issue Price (the "Share Settlement"). The Company issued 2,656,875 Offered Shares to BDC as part of the transaction, which increased its total ownership in good natured® to 12,323,542 Offered Shares. In addition, the Company will pay US$738,311 in cash to BDC to further reduce its outstanding debt to BDC. The Offered Shares issued to BDC pursuant to the Share Settlement will be subject to a four-month hold period from the date hereof. The Company's material financing agreements with BDC can be found on its SEDAR profile at www.sedar.com.
"BDC has been an amazingly supportive partner since we began our partnership in June 2019 and we are very happy to have them as an even more meaningful owner of the Company," stated Paul Antoniadis, CEO of good natured®. "The debt retirement further strengthens our ability to execute on our organic and acquisition growth strategy".
"The strong commercial success good natured® has achieved to date is a prime example of the outcome BDC has sought to enable by providing growth capital to emerging earth-friendly Canadian champions," stated Jahangir Bhatti, Director, Cleantech Practice at BDC Capital. "BDC's original financing helped facilitate the robust organic growth good natured® has delivered along with the acquisitions of Shepherd Thermoforming and Integrated Packaging Films. The debt conversion will lower the Company's debt outstanding and cash interest costs enabling more resources for future growth."
The good natured® corporate profile can be found at: investor.goodnaturedproducts.com
pual
4 years ago
Eat Beyond Portfolio Shows Early Returns, Seeding Larger Vision, and Enters Marketing Agreement - 02/25/2021 9:02:00 AM
VANCOUVER, BC, Feb. 25, 2021 /PRNewswire/ - Eat Beyond Global Holdings Inc. (CSE: EATS) (OTCPK: EATBF) (FSE: 988) ("Eat Beyond" or the "Company"), an investment issuer focused on the global plant-based and alternative food sector, is pleased to announce the recent success of its growing global portfolio.
Eat Beyond began trading on November 17, 2020 and its share price has jumped over 340 percent in just over three months. Several of Eat Beyond's portfolio companies have also now reached all-time highs for their share prices.
"Eat Beyond's objective is to provide liquidity and earn a return for our shareholders, while also continuously identifying and developing new opportunities in our target sector," said Patrick Morris, CEO of Eat Beyond. "While we do provide capital to our portfolio companies, that capital is just the start of our real investment. Eat Beyond's investment committee offers guidance and growth strategy to help companies accelerate their success and profitability more rapidly. We act as a true partner to help remove barriers and create opportunities to unlock each company's full potential."
The Company has seen strong returns from its portfolio companies including:
• The Very Good Food Company (CSE: VERY). Eat Beyond's investment was at a price of $0.25 per common share in early 2020, and shares have been trading steadily over $6.00 since December of 2020.
• Eat Beyond purchased a stake in good natured® (TSXV: GDNP) in November 2020 at $0.14 per share with each share receiving one-half warrant at $0.21. On Wednesday, February 24, 2021 the stock price last closed at $1.50. good natured® was also recently named a 2021 TST Venture 50 Company in the Clean Tech and Life Sciences sector.
• Eat Just was the first company in the world to have its cultured chicken product approved for sale. The product has been offered on a restaurant menu in Singapore since December 2020 and the company is scaling up production. Eat Just CEO Josh Tetrick has said the company is focused on achieving operating profitability and then intends to take the company public.
• Singapore-based TurtleTree Labs Launched TurtleTree Scientific in January 2021, TurtleTree Scientific is focused on working with cell-based meat companies on the production of food-grade growth factors to build the foundation that the cultured food industry needs to thrive.
• Edmonton-based Nabati Foods has been growing rapidly with its diverse product line of meat, dairy, and cheese alternatives, and has just closed an oversubscribed round of financing. Nabati has plans to go public in 2021.
"Eat Beyond seizes smart investment opportunities in early seed rounds for global companies that are not typically available to retail investors. We are the first Canadian company to focus exclusively in this area, and our focus spans innovative alternative proteins, food technology, and consumer packaged goods," added Morris. "Our vision for Eat Beyond and its potential opportunities continues to expand, and we look forward to further refining our strategy in the coming year."
The plant-based food market is projected to reach nearly $75 billion by 2027, with double digit annual growth forecasted, according to Meticulous Research. This sector surge represents a massive opportunity for Eat Beyond, its investors, and portfolio companies. Eat Beyond is presently laying the groundwork to expand its strategic focus and revenue model into new areas in the coming months to enhance and grow its top line.
Marketing agreement
The Company also announces it has engaged Electrik Dojo LLC for native advertising and digital marketing services to increase brand awareness for the Company. Certain services to be provided by Electrik Dojo are anticipated to include investor relations activities under the policies of the CSE and applicable securities laws. The Company will compensate Electrik Dojo USD $100,000 for a term of 30 days and will continue to look at strategic consultants to expand awareness of the Company and its activities.
MjMilo
4 years ago
Eat Beyond Portfolio Company GOOD NATURED Posts Strong FY2020 Results
Vancouver, B.C. – February 2, 2021 – Eat Beyond Global Holdings (CSE: EATS) (OTCPK: EATBF) (FSE: 988) (“Eat Beyond” or the “Company”), an imentnvest issuer focused on the global plant-based and alternative food sector, is announcing that its portfolio company good natured Products Inc. (“good natured®”) (TSXV: GDNP) has released its annual letter to shareholders showing exceptional revenue growth for the fiscal quarter ended December 31, 2020 and excellent projected growth for FY2020.
As per preliminary results released on January 12, 2021, good natured® ended FY2020 on a very strong note, with growth for the fiscal quarter ended December 31, 2020 anticipated to be between 98% - 110% on revenue between $5.0 million to $5.3 million, while full FY2020 revenue is anticipated to be up almost 70%, at $16.4 million to $16.7 million.
These strong results were driven by both organic growth and successful acquisitions. Several successful projects were executed, including the launch of an optimized eCommerce website serving both Canada and the U.S. as well as successful entry into the medical and pharmaceutical industry with packaging for COVID-19 testing kits, and personal protective equipment such as COVID-19 medical face shields.
good natured® makes plant-based products more readily accessible with a goal of delivering meaningful environmental and social impact. good natured® offers over 385 products and services through wholesale and retail channels, including their own e-commerce stores. This includes plant-based home organization products, compostable food containers, bioplastic industrial supplies and medical packaging.
“good natured® makes some of the best plant-based alternatives to traditional, petroleum-based packaging that I have seen on the market. I believe they are truly on the path to building North America's leading earth-friendly product company,” said Patrick Morris, CEO of Eat Beyond. “We are very happy to see demand for their products continue to grow - benefiting our shareholders and also having a positive impact on the planet.”
About good natured Products Inc.
good natured® is passionately pursuing its goal of becoming North America's leading earth-friendly product company by offering the broadest assortment of eco-friendly options made from plants instead of petroleum. We're all about making it easy and affordable for business owners and consumers to switch to better everyday products® made from renewable materials and free from chemicals of concern.
Part of the sustainable consumer goods market, good natured® offers over 385 products and services through wholesale and retail channels, including our own e-commerce stores. From plant-based home organization products to compostable food containers, bioplastic industrial supplies and medical packaging, we're focused on delivering a great customer experience to make more plant-based products readily accessible to more people as the path to deliver meaningful environmental and social impact.
About Eat Beyond Global Holdings
Eat Beyond Global Holdings Inc. (“Eat Beyond”) (CSE: EATS) (OTCPK: EATBF) (FSE: 988) is an investment issuer that makes it easy to invest in the future of food. Eat Beyond identifies and makes equity investments in global companies that are developing and commercializing innovative food tech as well as plant-based and alternative food products. Led by a team of food industry experts, Eat Beyond is the first issuer of its kind in Canada, providing retail investors with the unique opportunity to participate in the growth of a broad cross-section of opportunities in the alternative food sector, and access companies that are leading the charge toward a smarter, more secure food supply. Learn more: https://eatbeyondglobal.com/
Find Eat Beyond on Social Media on LinkedIn, Instagram, Twitter and Facebook
For media inquiries, please contact: Brittany@Exvera.com
For investment inquiries, please contact: Info@Eatbeyondglobal.com
For further information, please contact Patrick Morris at Info@Eatbeyondglobal.com or (236) 521-6499
MjMilo
4 years ago
Plant-Based Better Bites Bakery Switches to good natured(R) Packaging for National Retail Distribution
Tuesday, January 19, 2021, 6:01 AM ET
Vancouver, British Columbia--(Newsfile Corp. - January 19, 2021) - good natured Products Inc. (TSXV: GDNP) ("good natured(R)"), is pleased to announce that Better Bites Bakery, an Austin, Texas-based producer of plant-based treats free from the top 8 allergens, has transitioned to good natured(R) packaging made from annually renewable materials.
Better Bites
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Better Bites Bakery, established in 2011 out of a home kitchen in Austin has rapidly grown to become a household name. Following the founder's discovery of her son's allergies, Leah Lopez set out to manufacture delicious plant-based treats that are free from the most common allergens including gluten, eggs and dairy. Today, Better Bites Bakery has a total of 13 products from bite-sized cake bites to single serve cupcakes, that are nationally distributed to some of America's leading grocery retailers including Kroger, Whole Foods Market, Super Target, Costco and H-E-B.
For Better Bites Bakery, a business founded out of concerns for health and where ingredients have the utmost critical importance, good natured(R) packaging was a natural fit to extend the focus on plant-based ingredients all the way through to the packaging.
"By making the switch to good natured(R) packaging, we're able to provide our customers with the assurance that our plant-based products are complemented by our commitment to plant based packaging," said Leah Lopez, Founder & CEO of Better Bites Bakery. "The team at good natured(R) made the switch possible by customizing designs for our specific packing and transportation requirements, and I know our customers are going to be super excited to know we've made the change to plant-based packaging."
Paul Antoniadis, CEO of good natured(R) added: "We've been very excited to work together with companies like Better Bites Bakery, who are proactively switching to packaging made from renewable materials that are better for our health and the environment. Our ability to design and produce custom packaging makes it easy and affordable for customers with specialised packaging needs to access the latest in packaging innovations that can't be met with off-the-shelf solutions."
About Better Bites Bakery
Better Bites Bakery was established in 2011 by Leah Lopez who, when her son was just 2 years old, discovered he had life-threatening food allergies. From that moment forward, Leah started making "Better Bites" in her home kitchen so her family could enjoy allergen-free desserts together.
Better Bites Bakery's mission is to bring people together by providing delicious, plant-based treats that are free from the top 8 allergens, because celebrations and special occasions are always sweeter when everyone enjoys what's on the table.
For more information: BetterBitesBakery.com
About good natured Products Inc.
good natured(R) is producing and distributing one of North America's widest assortments of better everyday products(R) made with the highest possible percentage of renewable, plant-based materials and no BPAs, phthalates or other chemicals of concern potentially harmful to human health and the environment.
With a growing assortment of over 385 products and services, good natured(R) creates eco-friendly home and business products, food packaging, restaurant/take-out containers, medical and industrial supplies designed to do good for the planet, good for human health and good for business by driving incremental sales, minimizing waste and reducing environmental impact, all bundled up in a fresh and approachable brand.
For more information: goodnaturedproducts.com
On behalf of the Company:
Paul Antoniadis - Executive Chair & CEO
Contact: 1-604-566-8466
Investor Contact:
Spencer Churchill
Investor Relations
1-877-286-0617 ext. 113
invest@goodnaturedproducts.com
MjMilo
4 years ago
Good Natured Products Inc. Announces the Closing of its Acquisition of Integrated Packaging Films
December 22, 2020 — (Vancouver, BC) good natured Products Inc. (the “Company” or “good natured®”) (TSX-V: GDNP), today announced that it has closed the strategic acquisition of, through a wholly owned subsidiary, IPF Holdings Inc. dba Integrated Packaging Films (“IPF”), for $16.7 million (the “Acquisition”). All dollar figures in this release are in Canadian dollars unless noted otherwise.
The terms of the Acquisition were first announced on December 1, 2020, and the purchase price was paid through a combination of the previously announced $12.5 million in cash, the issuance of $833,467 in common shares of the Company (“Common Shares”) at a deemed price of $0.47 per Common Share, and the issuance of a $3.3 million vendor take-back note, subject to customary working capital and closing adjustments.
“We’re very pleased to announce the completion of this Acquisition and welcome everyone at IPF to the good natured® family,” said Paul Antoniadis, CEO of good natured®. “This transaction marks another significant milestone in the Company’s growth trajectory and contributes approximately $17.0 million in annual sales. This Acquisition diversifies and strengthens our industrial business group with the addition of nearly 100 customers, as well as entry into the medical and electronic industrial rollstock segment.”
Paul added: “I would like to express my appreciation to all team members and parties involved in contributing to the IPF closing. The Acquisition of IPF, in conjunction with the recent acquisition of Shepherd Thermoforming and Packaging in May 2020, represents our team’s ability to deliver on our acquisition strategy that underpins our organic growth business model.”
Founded in 1997 by the Mechar family, IPF is located in Ayr, Ontario and is a manufacturer of high quality, rigid plastic sheets used to create a variety of products, including thermoformed packaging. IPF’s customers serve a diverse set of end markets, including electronics, retail, industrial, food and medical packaging. IPF currently serves nearly 100 customers from a dedicated 32,000 square foot leased facility on 2.9 acres of land. Customers are primarily located in the northeast and midwest United States and Eastern Canada.
Key Highlights of the Acquisition:
IPF generated trailing twelve-month (“TTM”) revenue ending September 2020 of approximately $17.0 million
Adds just under 100 business-to-business customers, growing the Company’s business to business segment to a total of approximately 500 customers
IPF’s geographic sales mix is approximately 65% US and 35% Canadian
Adds between $10 and $12 million (unaudited) of total assets to the Company’s balance sheet
TTM EBITDA of approximately $3.7 million[1]
Highly strategic and synergistic acquisition that is expected to be immediately accretive to shareholders on an adjusted EBITDA basis
Expected to provide synergies of approximately $1.0 to $2.0 million in EBITDA in 2021
Enables further vertical integration at the Company’s thermoforming facility where finished packaging gross margins are expected to increase by 30% to 35% by incorporating roll stock extruded at the IPF facility
All pre-existing indebtedness of IPF will be paid out as a deduction of purchase price proceeds
$1.25 million in target net working capital required at closing
good natured® will begin recognizing revenue from IPF commencing December 1, 2020
Key Strategic Highlights:
Adds the medical and electronic market segments to current industrial business group
Establishes a full integrated custom packaging supply chain to service eastern Canada and the northeastern United States
Complements and builds on the Company’s existing outsourced supply chain partnerships
Grows customer count to approximately 500 recurring business-to-business customers, further opening up cross-selling opportunities
Strengthens industrial business group innovation and new product development pipeline
IPF’s facility includes 22 million pounds of production capacity on an annual basis, which is being upgraded to a total annual production capacity of 25 million pounds with an anticipated completion date of Q1 2021. The IPF facility is currently operating at approximately 75% capacity
Financing Details:
The Company secured the following financing, which has enabled it to complete the Acquisition and will fund related integration costs:
$7.6 million reducing term loan with the Royal Bank of Canada with 6-year amortization at market rates
US$2.5 million draw down of the BDC Capital Corp. (“BDC”) acquisition line under the terms and conditions of the Company’s existing BDC credit facility, as originally announced in June 2019
$3.3 million 3-year vendor take-back note at annual interest of 3.75%, the principal of which is repayable as to 1/3 on the second anniversary of closing, with the balance paid on the third anniversary of the closing of the Acquisition
$833,467 in Common Shares priced at $0.47 per Common Share issued to one of the sellers of IPF for an aggregate of 1,773,334 Common Shares, which are subject to a 12-month contractual hold period which exceeds the requirement of a four-month hold period under securities laws
$4.0 million in gross proceeds from a bought deal private placement financing of Common Shares at a price of $0.47 per Common Share, which closed on December 17, 2020, as was announced on such date
In addition, the Royal Bank of Canada has made available to IPF a $3.0 million revolving operating line of credit, plus a $400,000 revolving capital term loan, and a $400,000 revolving lease line. These credit facilities will be dedicated to the IPF operations and secured by its assets. The line of credit will be used to fund ongoing growth of IPF through the procurement of raw materials, inventory, and operating requirements.
The Company’s material financing agreements with BDC and the Royal Bank of Canada are available on SEDAR.
Debt for Shares:
Following the closing of the Offering, the Company plans to issue 62,500 Common Shares at a deemed price of $0.80 per Common Share to settle $50,000 of corporate debt owed to an arm’s length creditor of a subsidiary of the Company (the “Share Settlement”). The Share Settlement remains subject to TSX-V approval and is expected to occur upon receipt of such approval. The Shares to be issued pursuant to the Share Settlement will be subject to a four-month hold period.
Grant of Stock Options:
The Company concurrently announces, pursuant to the Company’s Omnibus Equity Incentive Compensation Plan, that it has granted stock options (the “Options”) to certain employees and consultants of IPF in connection with such persons entering into employment agreements upon the closing of the Acquisition, which are exercisable for up to an aggregate of 200,000 Common Shares of the Company. The Options are exercisable at $0.92 per Common Share.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933 (the “US Securities Act”) or any states securities laws and may not be offered or sold within the United states or to US Persons (as defined in Regulation S under the US Securities Act) unless registered under the US Securities Act and applicable state securities laws or an exemption from such registration is available.
The Acquisition was an arm’s length transaction. The share purchase agreement in connection with the Acquisition has been previously filed on the Company’s profile at www.sedar.com.
The good natured® corporate profile can be found at: investor.goodnaturedproducts.com
About good natured Products Inc.
good natured® is producing and distributing one of North America’s widest assortments of better everyday products® made with the highest possible percentage of renewable, plant-based materials and no BPAs, phthalates or other chemicals of concern potentially harmful to human health and the environment.
With a growing assortment of over 385 products and services, good natured® creates eco-friendly home and business products, food packaging, restaurant/take-out containers, medical and industrial supplies designed to do good for the planet, good for human health and good for business by driving incremental sales, minimizing waste and reducing environmental impact, all bundled up in a fresh and approachable brand.
For more information: goodnaturedproducts.com
On behalf of the Company:
Paul Antoniadis – Executive Chair & CEO
Contact: 1-604-566-8466
Investor Contact:
Spencer Churchill
Investor Relations
1-877-286-0617 ext. 113
invest@goodnaturedproducts.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibilities for the adequacy or accuracy of this release.
Non-GAAP financial measures
We have included in this press release certain non-GAAP measures that are used to evaluate the performance of IPF, including adjusted EBITDA. As non-GAAP measures generally do not have a standardized meaning, they may not be comparable to similar measures presented by other issuers. Adjusted EBITDA does not have a generally accepted industry definition.
Cautionary Statement Regarding Forward-Looking Information
This press release contains “forward-looking statements” within the meaning of applicable securities laws. Forward-looking statements can be identified by words such as: ”anticipate,” “intend,” “plan,” “budget,” “believe,” “project,” “estimate,” “expect,” “scheduled,” “forecast,” “strategy,” “future,” “likely,” “may,” “to be,” “could,”, “would,” “should,” “will” and similar references to future periods or the negative or comparable terminology, as well as terms usually used in the future and the conditional. Examples of forward-looking statements include, among others, the projected impact of completion of the Acquisition on the Company’s business, financial conditions and results, and the use of funds for integration costs.
By their nature, forward-looking statements involve known and unknown risks, uncertainties, changes in circumstances and other factors that are difficult to predict and many of which are outside of the Company’s control which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on the Company’s current beliefs, expectations and assumptions regarding the future of its business, future plans and strategies, projections, anticipated events and trends, general market conditions, the economy and other future conditions. The Company’s actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause actual results and financial conditions to differ materially from those indicated in the forward-looking statements include, among others, risks relating to general economic, market and business conditions.
The Company considers its assumptions to be reasonable based on currently available information, but cautions the reader that Its assumptions regarding future events, many of which are beyond the control of the Company, may ultimately prove to be incorrect since they are subject to risks and uncertainties that affect the Company and its businesses. When relying on the Company’s forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. The Company has assumed that the material factors referred to above will not cause such forward-looking statements and information to differ materially from actual results or events. However, there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.
Other than as required under securities laws, the Company does not undertake to update this information at any particular time.
Forward-looking statements contained in this news release are based on the Company’s current estimates, expectations and projections regarding, among other things, sales volume and pricing which it believes are reasonable as of the current date. The reader should not place undue importance on forward-looking statements and should not rely upon these statements as of any other date. All forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.
MjMilo
4 years ago
Eat Beyond Portfolio Company Good Natured Gains Traction Following Single-Use Plastic Ban
Eat Beyond has already seen a 10x return on its initial investment
Vancouver, B.C. – December 15, 2020 – Eat Beyond Global Holdings (CSE: EATS) (OTCPK: EATBF) (FSE: 988) (“Eat Beyond” or the “Company”), an investment issuer focused on the global plant-based and alternative food sector, is announcing that its portfolio company Good Natured Products Inc. (“Good Natured”) has gained tremendous traction following the October 7 announcement by the Canadian government that outlined the plan to ban single-use plastics by 2021.
Following the announcement, Good Natured’s stock rose from $0.14 on October 6, to its present price at $1.07.
Good Natured produces and distributes one of North America's widest assortments of over 385 eco-friendly, plant-based food packaging for home and business products, food packaging, restaurant/takeout containers, medical, and industrial supplies.
“Our investment in Good Natured has already realized approximately 10x our initial investment. We are constantly assessing the macro and micro trends in the food tech, plant-based, and alternative protein space, which includes auxiliary industries with companies like Good Natured,” said Patrick Morris, CEO of Eat Beyond.
Eat Beyond’s portfolio spans a wide range of industries, enabling it to capitalize on the growth of a wholistic cross-section of the evolving food space including cell agriculture, plant-based protein, plant-based dairy, infant food, natural food brands, eco-friendly packaging and more.
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