- SBBC completes exit of all cannabidiol (CBD) related business
units with the divestment of its Seventh Sense brand
- Company plans to pursue sale of No B.S. Skincare Brand
VANCOUVER, BC, Jan. 16,
2025 /CNW/ - Simply Better Brands Corp. ("SBBC" or
the "Company") (TSXV: SBBC) (OTCQB: SBBCF), a rapidly growing
brand accelerator in the global protein-based nutrition category,
offering innovative, plant-based protein products that prioritize
clean ingredients and exceptional taste, today announced two key
strategic actions that the company is taking to further streamline
its product portfolio, drive the continued market expansion of its
hero brand TRUBAR™ and sharpen its focus on
profitable growth and value creation.
- SBBC recently finalized the sale of its Seventh Sense brand
and, as a result, has completed its exit of the company's
cannabidiol (CBD) business. The sale of Seventh Sense follows
SBBC's decision to cease operations of its PureKana business and
the divestiture of the Vibez brand during 2024.
- In a further action to streamline and focus its product
portfolio, SBBC plans to initiate a process in the near future to
sell its interest in its No B.S. skincare brand.
"We are excited to announce the sale of our last remaining CBD
asset and initiating a process to pursue the sale of the No B.S.
brand," said SBBC Chairman and Chief Executive Officer J.R. Kingsley Ward "These actions have a clear
strategic focus to further streamline our product portfolio and
pave the way for us to direct additional resources and attention to
driving the growth and continued momentum of
TRUBAR™ in North
America and international markets. Based on our success with
TRUBAR™ and supported by our Board's strategic
expertise, we are now actively evaluating new opportunities in the
fast-growing "Better-for-You" consumer product categories that
represent a good fit for SBBC and attractive potential for value
creation."
About Simply Better Brands Corp.
Simply Better Brands Corp. is a rapidly growing brand
accelerator in the global protein-based nutrition category,
delivering premium protein products made with clean ingredients,
exceptional taste, and a commitment to sustainable health and
wellness. Focused on innovation and customer empowerment, the
company aims to redefine modern nutrition while expanding its reach
in this dynamic market. 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.
Cautionary Statement Regarding Forward-Looking
Information
Certain statements contained in this news release constitute
"forward-looking information" and "forward-looking statements"
(collectively, "forward-looking statements") as such terms are
defined under applicable Canadian securities laws and are based on
plans, expectations and estimates of management at the date of this
news release. 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. The words
"engaged in", "evaluating", "continuing to", "is reviewing",
"potential", "intend", "anticipates", "believes", "aims", "plans",
"expects" or variations of such words and phrases or statements
that certain future conditions, actions, events or results "will",
"may", "could", "would", "should", "might" or "can", or negative
versions thereof, "occur", "continue" or "be achieved", and other
similar expressions, identify forward-looking statements.
Forward-looking statements are necessarily based upon management's
perceptions of historical trends, current conditions and expected
future developments, as well as a number of specific factors and
assumptions that, while considered reasonable by the Company as of
the date of such statements, are outside of the Company's control
and are inherently subject to significant business, economic and
competitive uncertainties and contingencies which could result in
the forward-looking statements ultimately being entirely or
partially incorrect or untrue. Forward-looking statements contained
in this news release are based on various assumptions, including,
but not limited to, the following: the ability of the Company to
achieve its growth and revenue strategies; the demand for the
Company's products; that the Company's financial condition and
development plans do not change as a result of unforeseen events;
the regulatory climate in which the Company operates; and the
Company's ability to execute on its business plans. Known and
unknown risk factors, many of which are beyond the control of the
Company, could cause the actual results of the Company to differ
materially from the results, performance, achievements, or
developments expressed or implied by such forward-looking
statements. Such risk factors include but are not limited to:
the impact of foreign exchange rates; pricing pressures; general
adverse economic, market and business conditions and those factors
which are discussed in the Company's management discussion and
analysis for the year ended December 31,
2023, which is available under the Company's SEDAR+ profile
at www.sedarplus.com. The risk factors are not intended to
represent a complete list of the factors that could affect the
Company, and the reader is cautioned to consider these and other
factors, uncertainties, and potential events carefully and not to
put undue reliance on forward-looking statements. There can be no
assurance that forward-looking statements will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such statements.
Forward-looking statements are provided for the purpose of
providing information about management's expectations and plans
relating to the future. The Company disclaims any intention or
obligation to update or revise any forward-looking statements,
except to the extent required by applicable law. All of the
forward-looking statements contained in this news release are given
as of the date hereof and qualified by these cautionary
statements.
SOURCE Simply Better Brands Corp.
