VANCOUVER, BC, Jan. 20, 2023 /CNW/ - Simply Better Brands Corp. ("SBBC" or the "Company") (TSXV: SBBC) announces today it entered into an advisory agreement (the "Agreement") with Sebastien Centner (the "Advisor") dated September 1, 2022, pursuant to which payment for strategic advisory and consulting services to one of the Company's subsidiaries, shall be made in cash, or at the option of SBBC and subject to the approval of the TSX Venture Exchange, in common shares in the capital of the Company ("Common Shares"). The Agreement contemplates payment to the Advisor in the aggregate amount of USD$52,000.00 payable in two equal installments on the 3 and 6-month anniversary of the date of the Agreement. The number of Common Shares issued shall be the higher of: (i) the 15-day volume weighted average price of the Common Shares on the payment date and (ii) the Discounted Market Price (as defined by the TSX Venture Exchange (the "TSXV")). The term of the Agreement shall be six (6) months, following which, by mutual agreement, it may be renewed and/or extended for such period or periods and under such terms and conditions as may be mutually agreed to by the Company and the Advisor.
In addition, the Company announces that it has applied to the TSXV for approval of a shares for debt transaction regarding the first of two payments to the Advisor for services rendered pursuant to the Agreement. The Company has agreed to pay the first of two payments in the aggregate amount of USD$26,000.00 through the issuance of 148,925 Common Shares at a deemed price of CAD$0.23452, subject to the approval of the TSXV.
Simply Better Brands Corp. leads an international omni-channel platform with diversified assets in the emerging plant-based and holistic wellness consumer product categories. The Company's mission is focused on leading innovation for the informed Millennial and Generation Z generations in the rapidly growing plant-based, natural, and clean ingredient space. The Company continues to focus on expansion into high-growth consumer product categories including CBD products, plant-based food and beverage, and the global pet care and skin care industries. For more information on Simply Better Brands Corp., please visit: https://www.simplybetterbrands.com/investor-relations.
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.
SOURCE Simply Better Brands Corp
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