Eat Beyond Portfolio Company Nabati Announces Private Placement for up to $4 Million

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

VANCOUVER, BC, Feb. 1, 2021 /CNW/ - Eat Beyond Global Holdings Inc. (CSE: EATS) (OTCPK: EATBF) (FSE: 988) ("Eat Beyond" or the "Company"), an investment issuer focused on the global plant-based and alternative food sector, is announcing that its portfolio company Nabati Foods Inc. ("Nabati") has entered into a definitive agreement to be acquired by a private British Columbia company ("BCCO") as part of its proposed listing. In connection with the acquisition, BCCO has engaged Mackie Research Capital Corp. (the "Agent"), pursuant to which the Agent has agreed to offer for sale 8,000,000 special warrants of BCCO (the "Special Warrants"), on a "best efforts" private placement basis at a price per Special Warrant of $0.50 (the "Issue Price") for total gross proceeds of up to $4,000,000 (the "Offering").

Each Special Warrant shall be automatically exercisable, for no additional consideration, into common shares of BCCO ("BCCO Shares") on the date (the "Automatic Exercise Date") that is the earlier of: (i) the date that is three business days following the date on which BCCO obtains a receipt from the applicable securities regulatory authorities for a final prospectus qualifying distribution of the BCCO Shares underlying the Special Warrants (the "Qualifying Prospectus"); and (ii) the date that is four months and one day after the closing of the Offering.

BCCO has granted the Agent an option to offer for sale up to an additional 15% of the Special Warrants, at the Issue Price, exercisable in whole or in part at any time for a period of up to 48 hours prior to the closing date of the Offering.

Prior to the receipt of the Qualifying Prospectus and the automatic exercise of the Special Warrants, the securities issued under the Offering will be subject to an indefinite hold period under applicable securities laws.

The Offering is being carried out by BCCO prior to making an application to obtain a listing on the Canadian Securities Exchange. The proceeds of the Offering will be used to fund BCCO's proposed go-public transaction as well as for Nabati's business development, working capital, plant expansion, and to purchase equipment to expand production capacity and develop new product lines.

Nabati is based in Edmonton, Alberta and is a food technology company that offers healthy, plant-based products that are currently sold throughout the North American Market. All products are certified gluten-free, dairy-free, egg-free, refined sugar-free, all natural (non-GMO), certified kosher, and certified vegan.

"Demand for Nabati products has been growing rapidly, and the team is working around the clock to get a second facility up and running to increase production capacity," said Patrick Morris, CEO of Eat Beyond. "Nabati's 2020 revenue increased by over 85% over 2019's numbers, and we are optimistic that demand will continue to grow, particularly as the company releases more product lines."

Nabati products are currently available in over 300 stores across Canada and in over 120 stores across the U.S. Nabati also plans to enter the European Market in 2022. Nabati has recently expanded its distribution channel mix to include e-commerce and industrial sales, complementing its successful grocery and foodservice channels. 

"We are very excited to take the company to the next level with this round of financing," said Ahmad Yehya, CEO of Nabati. "The Offering will give us the fuel we need to continue to build our vision, and get healthy, plant-based products that taste great into the hands of more and more people."

DTC Eligibility

Eat Beyond is also pleased to share that its OTCPK listed common shares under the symbol EATBF are now eligible for electronic clearing and settlement through the Depository Trust Company ("DTC") in the United States.

The DTC is a subsidiary of the Depository Trust & Clearing Corporation and manages the electronic clearing and settlement of publicly traded companies. Securities that are eligible to be electronically cleared and settled through DTC are considered "DTC eligible." This electronic method of clearing securities speeds up the receipt of stock and cash, and thus accelerates the settlement process for investors and brokers, enabling the stock to be traded over a much wider selection of brokerage firms by coming into compliance with their requirements. With DTC eligibility, the Company is now accessible to all U.S. investors and institutions.

About Nabati foods Inc.

Nabati Foods Inc. ("Nabati") is a family-owned food tech company offering whole, natural, plant-based, gluten and soy-free foods for health-conscious consumers. The company was founded in 2014 and has four signature product lines including dairy-free cheesecakes, cheese alternatives, and plant-based meats. Nabati products are distributed in Canada and the U.S. through grocery, foodservice, and industrial channels.

About Eat Beyond Global Holdings

Eat Beyond Global Holdings Inc. ("Eat Beyond") (CSE: EATS) (OTCPK: EATBF) (FSE: 988) is an investment issuer that makes it easy to invest in the future of food. Eat Beyond identifies and makes equity investments in global companies that are developing and commercializing innovative food tech as well as plant-based and alternative food products. Led by a team of food industry experts, Eat Beyond is the first issuer of its kind in Canada, providing retail investors with the unique opportunity to participate in the growth of a broad cross-section of opportunities in the alternative food sector, and access companies that are leading the charge toward a smarter, more secure food supply. Learn more: https://eatbeyondglobal.com/

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The CSE does not accept responsibility for the adequacy or accuracy of this release.

The securities being offered have not been, nor will they be, registered under the United States Securities Act and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This news release will not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

Forward-Looking Information: This news release includes certain statements that may be deemed "forward-looking statements". The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "would", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this News Release. Actual results could differ materially from those currently anticipated due to a number of factors and risks.

SOURCE Eat Beyond Global Holdings Inc.

For media inquiries, please contact: [email protected]; For investment inquiries, please contact: [email protected]; For further information, please contact Patrick Morris at [email protected] or [phone]

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https://eatbeyondglobal.com/