The Conversation (0)
Boosh Plant-Based Brands Inc. (CSE: VEGI) (OTCQB: VGGIF) (FSE: 77i) ("Boosh" or the "Company"), a premier plant-based brand in the "better for you" food sector, is pleased to announce that it has engaged Storied Health Partners, a resource-rich platform that provides entrepreneurs the support and leverage they need to maximize their growth potential and accomplish their brand's next milestone.
CEO of Storied Health Partners, Anis Barakat, is a food and beverage expert with nearly a decade of experience in senior leadership roles in the industry. Mr. Barakat is the founder and former President of Revive Superfoods, the first multi-national frozen superfood subscription company selling ready-to-eat/blend meals such as smoothies, oats, soups and lunch/dinner bowls direct-to-consumer throughout the United States, Canada and UAE. During his time with Revive Superfoods, Anis was instrumental in developing a highly scalable direct-to-consumer ("DTC") subscription model that disrupted the ready-meal industry and achieved incredible success since its inception in 2018.
CEO of the Company, Connie Marples, stated: "Essentially, Anis and his team at Storied Health will work with our management team to execute and oversee the operational side of Boosh and Beanfields Brands, including production, logistics and distribution. Additionally, they are very experienced with online marketing and sales and they have demonstrated past successes in the online space, so we anticipate a bump in our DTC sales through their execution, starting in May 2023."
Anis Barakat, CEO of Storied Health Partners
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Anis Barakat explained, "I am now bringing my passion for this industry to Beanfields and Boosh which, in my opinion, are companies that are positioned very well for growth."
Marples continued, "With their infrastructure, expertise and buying power Anis and his team will be a huge contribution to the team here at Boosh. This enables us to focus more of our energy and time on growing market shares through our ongoing sales and marketing programs."
Debt Settlement
The Company also announces that on February 22, 2023, pursuant to debt settlement agreements, the Company settled certain debts in the aggregate amount of $81,000.00 that were owing and payable to certain consultants, directors and officers of the Company through the issuance of 2,700,000 common shares in the capital of the Company (each, a "Common Share") at a deemed issue price of $0.03 per Common Share (the "Debt Settlement").
Certain insiders (as such term is defined in applicable securities legislation) participated in the Debt Settlement and received an aggregate of 1,400,000 Common Shares. The participation by insiders in the Debt Settlement constitutes a related-party transaction, as defined under Multinational Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Debt Settlement is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 by virtue of the exemption contained in Section 5.5(b) of MI 61-101 as the Company's Common Shares are not listed on a specified market and Section 5.7(a) of MI 61-101 as the fair market value of the consideration of the Common Shares being issued does not exceed 25% of the Company's market capitalization.
All securities issued in connection with the Debt Settlement are subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.
About Boosh Plant-Based Brands Inc.:
Boosh Plant-Based Brands Inc., through its wholly owned subsidiary, Boosh Food (www.booshfood.com) offers high quality, non-GMO, gluten free, 100% plant-based nutritional comfort foods for the whole family. Through a separate subsidiary, Beautiful Beanfields, (www.beanfields.com) the Company owns Beanfields, a plant-based chip brand sold in over 7,000 stores throughout North America. Boosh, good for you and good for planet earth.
Connie Marples
Founder/CEO
connie@booshfood.com
Telephone: 778 840 1700
www.Booshfood.com
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking information or forward-looking statements under applicable Canadian securities laws (collectively, "forward-looking statements"). All information that addresses activities or developments that the Company to occur in the future are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect", "likely" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made. In the press release, such forward-looking statements include, but are not limited to, statements regarding, the Company's performance, business objectives and milestones and the anticipated timing thereof; the benefits and objectives for engaging Storied Health Partners; and the growth of Beanfields and Boosh..
In making the forward-looking statements in this press release, the Company has applied several material assumptions, including without limitation: the Company obtaining requisite regulatory approvals and the satisfaction of other conditions to the consummation of objectives listed herein; the Company's ability to comply with all applicable regulations and laws, including environmental, health and safety laws; the Company's ability to meet the listing requirements of the CSE and OTCQB; the Company's ability to manufacture and sell its Beanfields products; the Company having sufficient working capital for future operating activities; the ability of the Company to achieve its business objectives and milestones and the anticipated timing of execution; the Company's ability to continue as a going concern; the Company's ability to achieve profitability in the 2023 fiscal year; and the Company's ability to obtain additional financing for continued operations on terms acceptable to the Company.
The above lists of forward-looking statements and assumptions are not exhaustive. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated or implied by such forward-looking statements due to a number of factors and risks. These include: changes in general economic, business and political conditions, including changes in the financial markets; delays or the inability of the Company to obtain necessary permits, consents or authorizations required; changes in laws, regulations and policies affecting the Company's operations; currency fluctuations; environmental issues and liabilities; the Company's inability to continue to meet the listing requirements of the CSE and OTCQB; the inability of the Company to obtain additional financing for continued operations on terms acceptable to the Company; the lack of control over the Company's investees; risks relating to investing in the Common Shares; volatility in the market price of the Company's Common Shares; dilution of shareholders' holdings; negative operating cash flow; the negative effects of interest rate and exchange rate changes; the potential impact of health crises and market instability due to the COVID-19 pandemic; risks relating to the Company's reliance on key employees; the participation by insiders in the Debt Settlement; limitations in the liquidity of the Common Shares; litigation risks; the Company's inability to expand into new business areas and geographic markets; management of growth; the risk of defaulting on existing debt; and the Company's inability to continue as a going concern.
Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/162216
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