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Boosh Plant-Based Brands Inc. (CSE: VEGI) (OTCQB: VGGIF) (FSE: 77I) ("Boosh" or the "Company") is pleased to announce that it has completed its previously announced acquisition of Pulse Kitchen Specialty Foods Ltd. ("Pulse Kitchen") (see news release dated October 8, 2021).
Pulse Kitchen produces high quality 100% plant-based, gluten free cheese, made from nuts, seeds, pulses and other fine ingredients. Cheese flavors include Sharp Cashew Cheddar, Almond Chevre, Dill Havarti, Almond Swiss, Vegan Pepper Jack, Cashew Kind of Blue and Smoky Cashew Cheddar as well as a Feta style cheese ready to bring to market. Products are sold in approximately 250 grocery stores in Canada including Whole Foods, Healthy Planet, Nature's Fare, IGA, Fresh St Market, Choices, Urban Fare, and Nesters. The production facility is located in Penticton BC and was established in 2016.
"We're methodically executing on our business plan which includes four separate revenue streams," states Jim Pakulis CEO of Boosh Food. "Organic growth through opening of new retail stores as well as servicing our existing 400 plus retailers through re-orders, E-commerce through companies like ShopVejii.com in both Canada and the US, selling to US retail stores through our US natural food broker, and successful acquisitions. Pulse Kitchen is our third acquisition since February, and we believe it will be synergistic to our brands in our expanding portfolio. As previously mentioned, we continue to be in discussions with other plant-based acquisition candidates who are looking for access to capital and a corporate infrastructure designed for growth."
The aggregate purchase price for Pulse Kitchen was $300,000 in cash payable over a 12- month period in equal installments at closing, six months from closing and 12 months from closing and the issuance of 50,000 common shares, on closing.
On behalf of the Board of Directors
James Pakulis
Chief Executive Officer
Telephone: (833) 882-6674
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. We currently offer six frozen meals and three refrigerated meals which are sold throughout Canada. 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 proposed use of the proceeds of its initial public offering. 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/99971
