Yerbaé Closes Second Tranche of Celebrity Investment Round
01 September 2023 - 2:07PM
Business Wire
Yerbaé Brands Corp. (TSX-V: YERB.U; OTCQX: YERBF)
(“Yerbaé” or the “Company”) , a plant-based energy
beverage company, today announced the successful close of the
second tranche (the “Second Tranche”) of its previously
announced celebrity investment round, raising an additional
US$412,352 for aggregate proceeds together with the first tranche
of US$4,474,273 (the “Offering”).
In connection with the Offering, Yerbaé issued an aggregate of
2,444,958 units (each, a “Unit”) of the Company at a price
of US$1.83 per Unit for aggregate gross proceeds, together with the
initial tranche, of US$4,474,273. Each Unit consists of one common
share of the Company (each, a “Common Share”) and one Common
Share purchase warrant (each, a “Warrant”), with each
Warrant entitling the holder thereof to acquire one additional
Common Share (each, a “Warrant Share” and, collectively with
the Common Shares and the Warrants, the “Securities”) at a
price per Warrant Share of US$2.15 for a period of 24 months from
the date of issuance.
The Company intends to use the net proceeds from the Offering
for costs associated with increased production, working capital and
general corporate purposes.
No finder’s fees were paid in connection with the closing of the
Second Tranche. All securities issued in connection with the
Initial Tranche are subject to a statutory four‐month hold period.
For further information on the initial tranche of the Offering, see
Yerbaé’s news release filed on SEDAR+ dated August 21, 2023.
The Securities will not be registered under the U.S.
Securities Act of 1933, as amended, and may not be offered or sold
in the United States absent registration or an applicable exemption
from the registration requirements. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy
nor shall there be any sale of the securities in any State in which
such offer, solicitation or sale would be unlawful.
About Yerbaé Brands Corp.
Founded in 2017 by Todd Gibson and Karrie Gibson, Yerbaé Brands
Corp., (TSX-V: YERB.U; OTCQX: YERBF) is disrupting the energy
beverage marketplace with great tasting, zero sugar, zero calorie
beverages, while using plant-based ingredients that are designed to
meet the needs of the wellness forward consumer. Harnessing the
power of nature, Yerbaé’s celebrity ingredient (Yerba Mate) is
known to produce 196 different vitamins, minerals and nutrients
that also produces caffeine.
By combining yerba mate, a South American herb with its premium
ingredients and flavors, Yerbaé provides consumers with a no
compromise energy solution. All Yerbaé energy beverages are zero
calorie, zero sugar, non-GMO, and gluten free.
Find us @DrinkYerbaé on Instagram, Facebook, Twitter/X and
TikTok, or online at https://yerbae.com.
Disclaimer for Forward-Looking Information
This news release contains forward-looking statements relating
to the Company. Statements in this news release that are not purely
historical are forward-looking statements and include any
statements regarding beliefs, plans, expectations or intentions
regarding the future, including: the anticipated use of proceeds of
the Offering; that Yerbaé will receive the necessary approvals from
the TSXV or otherwise for the closing of the Offering and the Media
Specialists Agreement; that Yerbaé will deliver consistent growth;
and Yerbaé’s ability to be a leading player in the plant-based
functional energy beverage industry. Forward-looking statements are
based on assumptions and are subject to a number of risks and
uncertainties, many of which are beyond our control, which could
cause actual results to differ materially from those that are
disclosed in or implied by such forward-looking statements. The
material assumptions supporting these forward-looking statements
include, among others, that the Company will receive the necessary
final approval for the Offering and the Media Specialists
Agreement; that the demand for the Company’s products will continue
to significantly grow; that the past production capacity of the
Company’s co-packing facilities can be maintained or increased;
that there will be increased production capacity through
implementation of new production facilities, new co-packers and new
technology; that there will be an increase in number of products
available for sale to retailers and consumers; that there will be
an expansion in geographical areas by national retailers carrying
the Company’s products; that the Company’s brokers and distributors
will continue to sell and prioritize the Company’s products; that
there will not be interruptions on production of the Company’s
products; that there will not be a recall of products due to
unintended contamination or other adverse events relating to the
Company’s products; and that the Company will be able to obtain
additional capital to meet the Company’s growing demand and satisfy
the capital expenditure requirements needed to increase production
and support sales activity. Actual results could differ from those
projected in any forward-looking statements due to numerous
factors. Such factors include, among others, governmental
regulations being implemented regarding the production and sale of
energy drinks; the fact that consumers may not embrace and purchase
any of the Company’s products; additional competitors selling
energy drinks reducing the Company’s sales; the fact that the
Company does not own or operate any of its production facilities
and that co-packers may not renew current agreements and/or not
satisfy increased production quotas; the potential for supply chain
interruption due to factors beyond the Company’s control; the fact
that there may be increases in costs and/or shortages of raw
materials and/or ingredients and/or fuel and/or costs of
co-packing; the fact that there may be a recall of products due to
unintended contamination; the inherent uncertainties associated
with operating as an early stage company; changes in customer
demand and the fact that consumers may not embrace energy drink
products as expected or at all; the extent to which the Company is
successful in gaining new long-term relationships with new
retailers and retaining existing relationships with retailers,
brokers, and distributors; the Company’s ability to raise the
additional funding that it will need to continue to pursue its
business, planned capital expansion and sales activity; and
competition in the industry in which the Company operates and
market conditions.
These forward-looking statements are made as of the date of this
news, and the Company assumes no obligation to update the
forward-looking statements, or to update the reasons why actual
results could differ from those projected in the forward-looking
statements, except as required by applicable law, including the
securities laws of the United States and Canada. Although the
Company believes that any beliefs, plans, expectations and
intentions contained in this presentation are reasonable, there can
be no assurance that any such beliefs, plans, expectations or
intentions will prove to be accurate. Readers should consult all of
the information set forth herein and should also refer to the risk
factors disclosure outlined in greater detail under “Risk Factors”
in the Company’s Information Circular dated November 15, 2022
available on SEDAR at www.sedar.com.
Neither 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20230901045063/en/
For media inquiries, press@yerbae.com or (480) 471-8391 For
investors, investors@Yerbae.com or (480) 471-8391
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