TRIUS ANNOUNCES SECURED LOAN TO REVIVE SUPERFOODS
21 March 2020 - 4:17AM
Trius Investments Inc. (TSXV:TRU.H) (“Trius”) announces that it has
completed a loan in the principal amount of $1,250,000 (the “Loan”)
to Revive Organics Inc. (“Revive Superfoods”), a private company
existing under the laws of the Province of Ontario. The Loan
has a maturity date of March 20, 2021 and bears interest at a rate
of 10% per annum, payable monthly. The Loan is secured by a general
security agreement in favour of Trius over all of the assets of
Revive Superfoods. In certain circumstances set out in the Loan,
Revive Superfoods may make additional one-time payments to Trius.
Revive Superfoods operates in the dynamic
ready-to-eat meals industry, and has generated rapidly growing
revenues while expanding its offerings across North America. Revive
Superfoods offers a subscription service that delivers
ready-to-blend smoothies and other healthy prepared meals right to
consumers’ doors, with operations in Canada and the United States.
Revive Superfoods will use the net proceeds of the Loan to fund
marketing and distribution initiatives, and for general working
capital purposes. For more information on Revive Superfoods, see
their website at https://revivesuperfoods.com/.
Trius President and CEO, Joel Freudman,
commented, “We are pleased to announce the Loan to Revive
Superfoods in the midst of difficult market and economic
conditions. This will provide Trius with monthly cashflow to offset
cash burn while we search for our next transaction. We think Revive
Superfood’s business will be resilient as consumers increasingly
seek out convenience and meals at home.”
About Trius Investments
Inc.Trius is an investment issuer searching for new
business opportunities and/or investments, with a focus on
established, revenue-generating businesses. Trius’ common shares
trade on the NEX Board of the TSX Venture Exchange under the symbol
“TRU.H”.
Trius is a portfolio company of Resurgent
Capital Corp. (“Resurgent”), a merchant bank providing venture
capital markets advisory services and proprietary financing.
Resurgent works exclusively with high-potential public and
pre-public micro-capitalization Canadian companies.
For further information, please contact: Joel
FreudmanPresident & Chief Executive OfficerTrius Investments
Inc.Phone: (647) 880-6414
Cautionary StatementsNeither TSX Venture
Exchange nor its Regulation Services Provider (as that term is
defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
All information contained in this press release
with respect to Trius and Revive Superfoods was supplied by the
respective parties for inclusion herein, and each party has relied
entirely on the other party for any information concerning the
other party. Trius does not assume any responsibility for the
accuracy or completeness of the information provided by Revive
Superfoods.
This press release includes statements
containing forward-looking information that reflect the current
views and/or expectations of management of Trius and Revive
Superfoods, as applicable, including but not limited to the use of
proceeds from the Loan by Revive Superfoods and anticipated
industry trends. Statements containing forward-looking information
are not guarantees of future performance and involve risks,
uncertainties and assumptions, which are difficult to predict, and
which are outside of Trius’ control. In particular, there is no
guarantee that Trius will be able to source and execute additional
transactions. Actual results may differ materially from those
projected in the forward-looking information herein. Accordingly,
readers should not place undue reliance on forward-looking
statements and information herein, which are qualified in their
entirety by this cautionary statement. The forward-looking
information contained in this press release is provided as of the
date of this press release, and neither Trius nor Revive Superfoods
undertakes any obligation to release publicly any revisions for
updating any forward-looking statements made herein, except as
required by applicable securities laws.
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