VANCOUVER, BC, Jan. 20,
2023 /CNW/ - Simply Better Brands Corp.
("SBBC" or the "Company") (TSXV: SBBC) announces
today it entered into an advisory agreement (the
"Agreement") with Sebastien
Centner (the "Advisor") dated September 1, 2022, pursuant to which payment for
strategic advisory and consulting services to one of the Company's
subsidiaries, shall be made in cash, or at the option of SBBC and
subject to the approval of the TSX Venture Exchange, in common
shares in the capital of the Company ("Common Shares"). The
Agreement contemplates payment to the Advisor in the aggregate
amount of USD$52,000.00 payable in
two equal installments on the 3 and 6-month anniversary of the date
of the Agreement. The number of Common Shares issued shall be the
higher of: (i) the 15-day volume weighted average price of the
Common Shares on the payment date and (ii) the Discounted Market
Price (as defined by the TSX Venture Exchange (the "TSXV")).
The term of the Agreement shall be six (6) months, following which,
by mutual agreement, it may be renewed and/or extended for such
period or periods and under such terms and conditions as may be
mutually agreed to by the Company and the Advisor.
In addition, the Company announces that it has applied to the
TSXV for approval of a shares for debt transaction regarding the
first of two payments to the Advisor for services rendered pursuant
to the Agreement. The Company has agreed to pay the first of two
payments in the aggregate amount of USD$26,000.00 through the issuance of 148,925
Common Shares at a deemed price of CAD$0.23452, subject to the approval of the
TSXV.
About Simply Better Brands
Corp.
Simply Better Brands Corp. leads an international omni-channel
platform with diversified assets in the emerging plant-based and
holistic wellness consumer product categories. The Company's
mission is focused on leading innovation for the informed
Millennial and Generation Z generations in the rapidly growing
plant-based, natural, and clean ingredient space. The Company
continues to focus on expansion into high-growth consumer product
categories including CBD products, plant-based food and beverage,
and the global pet care and skin care industries. For more
information on Simply Better Brands Corp., please visit:
https://www.simplybetterbrands.com/investor-relations.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Simply Better Brands Corp