SIMPLY BETTER BRANDS ANNOUNCES NEW PARTNERSHIP WITH BMO AND CLOSING OF USD $10 MILLION CREDIT FACILITY TO SUPPORT THE FUTURE GROWTH OF TRUBAR™
Summary
With this new credit facility in place, we can confidently scale our operations, invest in innovation and meet the increasing demand for our TRUBARTM product offerings. The interest rate includes all fees payable to Export Development Canada (EDC) in respect of the TELP guarantee, currently 1.75% per annum.Simply Better Brands Corp. is an international omni-channel platform with a portfolio of diversified assets in the rapidly growing plant-based, natural, and clean ingredient space. Serving customers for 200 years and counting, BMO is a diverse team of highly engaged employees providing a broad range of personal and commercial banking, wealth management, global markets and investment banking products and services to 13 million customers across Canada, the United States, and in select markets globally. Driven by a single purpose, to Boldly Grow the Good in business and life, BMO is committed to driving positive change in the world, and making progress for a thriving economy, sustainable future, and inclusive society. Forward-looking statements include, without limitation, the availability of funds under the credit facility, the approval of the TSX Venture Exchange, the anticipated benefits of the financings and the growth in distribution for the TRUBAR plant-based protein bar, anticipated use of proceeds from the credit facility and Promissory Notes, and statements with respect to the future business and operations of the Company.