Boosh Plant-Based Brands Inc. ("Boosh" or the "Company") (CSE: VEGI) (OTCQB: VGGIF) (FSE: 77I) announced on Friday, February 11th, 2022 that it executed an asset purchase agreement to acquire substantially all of the assets of Beanfields Inc. (the "Assets").
Highlights of the award winning Beanfields transaction include:
- Boosh's revenues increase to an estimated $14,500,000 (TTM)
- Stores carrying Beanfields and/or Boosh increased from 600 to 7,000 affording
Boosh with the potential of 7,000 more stores
- Post-acquisition Boosh has a conservative 27.1 million shares outstanding
- Fourth and most significant acquisition in past 12-months
- Large North American distribution platform
- Significant growth potential beyond existing client base (primarily natural and organic grocery food chains)
- Transaction provides immediate substantial cost savings
Jim Pakulis, Boosh CEO comments, "This is one of the most significant acquisitions of my professional career, and I'll continue to be looking for additional accretive candidates for Boosh."
As previously noted in our February 11th press release, Boosh is performing an audit on Beanfields. In the event that the Audited Statements demonstrate a variance of 20% of greater of the representations made concerning the financial condition of the Assets, Boosh may unwind the acquisition of the Assets and cancel the Note and return to treasury the Payment Shares, within 120 days of closing, which is currently expected to occur on Wednesday, February 16th, 2022, subject to regulatory approvals as well as other customary conditions of closing.
On behalf of the Board of Directors
Chief Executive Officer
Telephone: (833) 882-6674
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 24 plant-based SKU's ranging from frozen meals, to refrigerated entrees to shelf stable Mac & Cheezes, and 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 plans in respect of the Assets, the potential revenues of the Assets and the Company's intention to complete the acquisition of the Assets.. 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.