Boosh Plant-Based Brands Inc. (CSE: VEGI) (OTCQB: VGGIF) (FSE: 77I) ("Boosh" or the "Company") is pleased to announce that it has executed a Share Purchase Agreement dated October 1st, 2021 to purchase all the shares of Pulse Kitchen Specialty Foods Ltd. ("Pulse Kitchen").
Pulse Kitchen products 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. 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.
"I think joining the Boosh family is a perfect fit for us. They strive to differentiate themselves in the plant-based sector, as do we. Our emphasis at Pulse Kitchen is to create deliciously flavoured plant-based cheeses with a focus on high quality and texture allowing us to enhance our consistency relating to balancing the levels of acidity and quality, resulting in a unique set of characteristics in terms of flavour, taste and texture," states Chef Stephanos Liapis, owner and founder of Pulse Kitchen. "Our products certainly take center stage on any charcuterie board and are equally enjoyed while snacking or adding to other dishes."
"We are thrilled to welcome Stephanos, Brigitte and their team to Boosh. Not only are they amazing people, and produce amazing cheese, but their products pair beautifully with our line of Vege pate and dips from our recently acquired business, Salt Spring Harvest. Going forward Boosh will have an entire line of foods that pair naturally with wine, which happens to be a passion of mine. Having an earlier career in the food and beverage industry and owning a wine store and two wine bars, this is of special interest to me," stated founder and president, Connie Marples. She continues, "To top it off, Penticton is my hometown where I spent most of my childhood. Having a production facility where a piece of my heart is and the heart of the wine country adds to the cache of the Pulse Kitchen brand."
CEO Jim Pakulis states, "This is our third acquisition in less than nine months. As we continue to execute on our business plan including our four-prong revenue stream model; organic growth, acquisition, US expansion and E-commerce, 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 is $300,000 in cash and the issuance of 50,000 common shares, payable as follows. $100,000 payable on the closing date, minus $10,000 deposit, 50,000 common shares of Boosh issued on the Closing Date, $100,000 payable six months from the date of closing and $100,000 twelve months from closing date.
On behalf of the Board of Directors
Chief Executive Officer
Telephone: (833) 882-6674
Boosh Plant-Based Brands Inc., through its wholly owned subsidiary, Boosh Food (www.booshfood.com), produces high quality, 100% plant-based gluten free, non-GMO nutritious comfort foods for the whole family. We offer six frozen meals, 3 refrigerated meals and a line of veggie pates and dips. All are sold throughout Canada with plans to start sales in the US late 2021. 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.
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