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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 secured and drawn down on the first tranche of a new operating line of credit.
The Operating Line provided by Summit Bancorp Inc. will provide the Company with up to $500,000 to be drawn at its discretion. As part of the agreement, Summit will also be advising the Company on various capital market strategies to drive shareholder value. The Company has already drawn down $125,000 of the Operating Line which it will use to fulfil sales orders. Each drawdown is repayable three years after the initial date of advance and bears interest at fifteen percent per annum. The line is fully open and can be repaid at anytime without penalty.
"We are very excited to have secured this facility," said Connie Marples, CEO. "The current equity raise along with this facility will allow us to accelerate order fulfillment. We plan on announcing additional details around this shortly."
The Company also announces that Jen Eged has resigned as a director of the Company for personal reasons. Boosh would like to thank Ms. Eged for her contribution to the company and wishes her well.
Connie Marples
Founder/CEO
connie@booshfood.com
Telephone: 778 840 1700
www.Booshfood.com
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.
The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward-looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward-looking statements. Forward-looking statements in this news release include, but are not limited to, the Company's expectations concerning the size of the Financing, its ability to close the Financing in whole or in part or at all and its plan for the proceeds of the Financing. Any number of factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although the Company believes that the expectations reflected in forward looking statements are reasonable, it can give no assurances that the expectations of any forward looking statements will prove to be correct. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/151080
