Brief: Simply Better Brands Corp. Provides Preliminary 2022 Results, 2023 Outlook And Announces Fully Subscribed $5 Million Non-Brokered Private Placement With Participation Of Strategic Investors And Insiders

TRUBAR

26/01/2023 13:48

Jan 26 (Reuters) - Simply Better Brands Corp  SBBC.V :
    * SIMPLY BETTER BRANDS CORP. PROVIDES PRELIMINARY 2022
RESULTS,
2023 OUTLOOK AND ANNOUNCES FULLY SUBSCRIBED $5 MILLION
NON-BROKERED PRIVATE PLACEMENT WITH PARTICIPATION OF STRATEGIC
INVESTORS AND INSIDERS
    * SIMPLY BETTER BRANDS CORP SEES 2023 CONSOLIDATED NET SALES
TO
EXCEED USD$80 MILLION
    * SIMPLY BETTER BRANDS CORP SEES 2023 GROSS MARGIN AS A
PERCENTAGE
OF NET SALES TO BE BETWEEN 58% AND 60%
    * SIMPLY BETTER BRANDS CORP - EXPECTS TO ACHIEVE POSITIVE
ADJUSTED
EBITDA IN RANGE OF USD$3-4 MILLION IN 2023
    * SIMPLY BETTER BRANDS CORP - FULLY SUBSCRIBED, NON-BROKERED
PRIVATE PLACEMENT FOR 20 MILLION UNITS AT PRICE OF $0.25 PER
UNIT FOR GROSS PROCEEDS OF $5 MILLION
    * SIMPLY BETTER BRANDS CORP - NET PROCEEDS OF OFFERING WILL
BE
USED FOR NEW PRODUCT DEVELOPMENT, CHANNEL EXPANSION, GEOGRAPHIC
EXPANSION, DEBT REDUCTION

Source text for Eikon:  ID:nCNWQRtjTa 
Further company coverage:  SBBC.V 
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