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On May 19, 2022, Eat & Beyond Global Holdings CEO, Michael Aucoin, participated in the 4th annual Reducetarian Summit in San Diego, California. The conference aimed to reduce animal product consumption and showcased investment opportunities in the plant-based food sector. Aucoin emphasized the growing interest in sustainable food alternatives and the strong alignment among investors and activists to drive innovation. The summit included workshops and networking events, further promoting the future of food.
Eat & Beyond Global Holdings Inc. (EATS) has completed its acquisition of Mylk Brands Inc., following shareholder approval on March 8, 2022, and Supreme Court consent on March 11, 2022. The acquisition involved the exchange of Mylk's shares for EATS shares, calculated at an Exchange Ratio based on an $11.5 million valuation and a deemed price of $0.52 per share. Consequently, EATS issued 22,115,310 shares to former Mylk shareholders, gaining full ownership of Mylk, known for its Banana Wave beverage brand.
Eat & Beyond Global Holdings Inc. has appointed Justin Osborne as Vice-President of Sales to enhance its position in the plant-based and alternative protein sector. Osborne brings over 10 years of experience in consumer packaged goods, having previously held key sales positions, including head of sales at Vega Canada. The appointment aims to drive commercial success for Eat & Beyond's portfolio companies, with expectations of increased revenue momentum. CEO Michael Aucoin expressed confidence in Osborne's ability to fortify the company's strategic goals.
Eat & Beyond Global Holdings Inc. has announced a rebranding and uplisting to the OTCQB under the ticker EATBF. This change reflects the company's broadened investment focus beyond just food, incorporating innovative food technology and intellectual property. Their diverse portfolio includes plant-based proteins, dairy alternatives, and sustainable packaging. CEO Michael Aucoin highlighted unprecedented consumer demand for alternatives to traditional food practices, suggesting the company is at the forefront of a food industry revolution.
Eat Beyond Global Holdings Inc. (CSE: EATS, OTCPK: EATBF) announced that its portfolio companies, Eat Just and Plant Power Fast Food, have been nominated for the 2022 Veggie Awards. Recognized by VegNews, the awards celebrate excellence in vegan products worldwide. Eat Just's JUST Egg Sous Vide is nominated for Best New Vegan Product, while Plant Power is nominated for Best Vegan Restaurant Chain and Best Vegan Burger Joint. Online voting for the awards is underway. CEO Michael Aucoin expressed excitement about the nominations highlighting the growth of the plant-based food market.
On January 24, 2022, Eat Beyond Global Holdings (CSE: EATS; OTCPK: EATBF) announced a definitive arrangement agreement to acquire Mylk Brands Inc. for approximately C$11.5 million in Eat Beyond Shares at a price of $0.52 per share. This acquisition includes the Banana Wave brand, known for its plant-based beverages made from oats and bananas. Following the transaction, Mylk shareholders will own about 39% of the combined entity. The deal is subject to Mylk shareholder and regulatory approvals, with a special meeting scheduled for February 2022.
Eat Beyond Global Holdings Inc. has appointed Dr. Aletta Schnitzler as the Chief Scientific Officer of its portfolio company, TurtleTree. Dr. Schnitzler brings 25 years of experience in laboratory science and has a proven record in cultured meat innovation. She will lead TurtleTree's cellular agriculture initiatives, focusing on enhancing R&D. Her expertise in developing cost-effective cell culture technologies is expected to be vital for achieving price parity with traditional animal products, thereby supporting the industry's growth.
Eat Beyond Global Holdings Inc. (CSE: EATS, OTCPK: EATBF) announced a Letter of Intent to acquire Mylk Brands Inc., which includes its subsidiary, Banana Wave. This acquisition aims to enhance Eat Beyond's portfolio in the plant-based and alternative protein sector. Banana Wave offers gluten-free, non-GMO beverages made from oats and bananas, with significant nutritional benefits. The deal involves issuing approximately 14.9 million common shares at a deemed price of $0.80. The transaction is subject to regulatory approvals and other conditions.
Eat Beyond Global Holdings Inc. (OTCPK: EATBF) announces that its portfolio company TurtleTree has successfully secured US$30 million in Series A financing, led by VERSO Capital. This brings TurtleTree's total funding to over US$40 million. Headquartered in Singapore, TurtleTree is innovating cell-based technologies for sustainable food and dairy products, including cell-based milk and precision fermentation ingredients. The new financing will enhance TurtleTree's R&D capacity and support its U.S. expansion plans.
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