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VANCOUVER, British Columbia, June 26, 2024 (GLOBE NEWSWIRE) -- ELSE NUTRITION HOLDINGS INC. (BABY) (BABYF) (0YL.F) ("Else" or the "Company"), the Plant-Based baby, toddler, and children nutrition company, today announced that it has entered into an agreement with a single, healthcare-focused institutional investor for the purchase and sale of 13,245,033 Units (the “Units”) of the Company (collectively, the “Offering”), which will be sold at an issue price of US$0.151 per Unit (the “Issue Price”), for aggregate gross proceeds of US$2 million. The Offering is scheduled to close on, or shortly after, June 28, 2024, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the Toronto Stock Exchange. The Company plans to use the net proceeds from the Offering to fund research and development, fund sales and marketing, acquire inventory, and for general corporate purposes.
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