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Else Nutrition Announces C$5.75 Million Strategic Investment by NewH(2) Limited and the Signing of a Distribution Agreement with Health and Happiness International Holdings Limited, a Global Premium Nutrition and Wellness Company
Else Nutrition Announces C$5.75 Million Strategic Investment by NewH(2) Limited and the Si...
About this update from Else Nutrition Holdings Inc
[{"type":"text","content":"\n\n\n\nElse Nutrition Announces C$5.75 Million Strategic Investment by NewH(2) Limited and the Signing of a Distribution Agreement with Health and Happiness International Holdings Limited, a Global Premium Nutrition and Wellness Company\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Feb. 19, 2020\n\n\n\n/NOT FOR DISTRIBUTION IN THE US OR TO US NEWSWIRE SERVICES/\n VANCOUVER, Feb. 19, 2020 /CNW/ - Else Nutrition Holdings Inc. (the \"Company\" or \"Else Nutrition\" or \"Else\") (TSXV: BABY) (OTCQB: BABYF), a developer of novel plant based infant nutrition is pleased to announce that it has entered into an investment agreement with NewH2 Limited, a subsidiary of Health and Happiness (H&H) International Holdings Limited, a Hong Kong Stock Exchange Company(HK:1112), pursuant to which NewH2 has agreed to an investment of C$5.75 million in the Company, as part of an aggregate private placement offering of up to C$8.0 million.\nPursuant to the private placement the Company will issue up to 12,383,900 (the \"Units\") at a price of C$0.646 per Unit. Each Unit will consist of one common share and 0.25 share purchase warrants, with each whole warrant (a \"Warrant\") entitling the holder to acquire one additional common share of the Company at an exercise price of C$0.969 per share for a period of thirty months from the closing date. NewH2 has agreed to purchase 8,900,928 of the Units being offered which will represent approximately 11.15% of the Company's issued and outstanding common shares assuming all Units are sold.\nOn closing of the offering, NewH2 and the Company will enter into an investor rights agreement pursuant to which NewH2 will be granted certain rights to maintain its percentage holdings of common shares in the Company through participation in future financings, and the right to hold one board seat on the Company's board of directors. Closing of the offering is expected to occur on or about February 26, 2020, and is subject to obtaining stock exchange approval.\nThe company inten...