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EAT WELL INVT GROUP INC - EWGFF STOCK NEWS

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Eat Well Investment Group Inc. (EWGFF) is a prominent Canadian-based company specializing in sustainable, plant-based foods. With a rich history spanning nearly 45 years, Eat Well focuses on processing, distributing, and marketing high-quality plant-based foods. Operating across North America with IP-driven facilities, the company distributes its products to over 35 countries globally. With a team of over 80 employees, Eat Well boasts top global rankings for its products and owns brands such as Sapientia, Amara Organic Foods, Belle Pulses, and Eat Well. Committed to innovation and excellence, Eat Well aims to feed families worldwide with premium plant-based products.

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Eat Well Investment Group Inc. has entered into a membership interest purchase agreement to sell its subsidiary Sapientia Technology Inc. to Superlatus, Inc. as part of a NASDAQ merger with TRxADE HEALTH, Inc. The sale of Sapientia allows Eat Well Group to focus on its agricultural strategy and pursue M&A opportunities.
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Eat Well Investment Group Inc. (CNSX:EWG, US:EWGFF) has entered into non-binding term sheets for refinancing credit facilities totaling up to $40MM with the Business Development Bank of Canada and a private lender. This refinancing is expected to decrease interest expenses significantly, enhancing cash flow by approximately $1.9MM annually. The refinancing includes a secured loan of $22.5MM at 5.65% over 20 years and converts $8MM of existing debt into a convertible loan with a 15% interest rate.

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Eat Well Group, through its subsidiary Belle Pulses, announced strong financial results for Q3 2022, featuring record gross profit of $2,903,217, a 60.3% year-over-year increase. EBITDA rose to $1,978,956, marking a 61.3% increase from the prior year. The company’s total assets also grew by 7.5% to $63,907,968. For 2023, revenue guidance is set between $115MM and $135MM, with adjusted EBITDA expected between $9MM and $14MM. Amara Infant Nutrition reported a 147% increase in revenue, reflecting strong market performance and expansion initiatives.

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Eat Well Group forecasts combined profitability with an Adjusted EBITDA of $4.0-5.0 million for 2022. The operational update highlights strong performance from Belle Pulses, Amara Organic Foods, and Sapientia Technology LLC.

Belle Pulses reports continued demand and margin expansion, while Amara expands its presence to 100 club stores by year-end. Sapientia aims for 700 outlets by December 2022. The company plans to uplist to the TSX in Q4 2022, with insider ownership exceeding 76%, underscoring confidence in business growth.

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Eat Well Investment Group has appointed Dr. Bernhard van Lengerich to its Advisory Board, enhancing its expertise in the plant-based investment sector. With a PhD in Food/Biotechnology and leadership roles at companies like General Mills and Beyond Meat, Dr. van Lengerich will assist in advancing the company's foodtech initiatives. Additionally, Eat Well Group has secured an additional $6.5 million in credit facilities, bringing the total availability to $40 million to support growth and working capital.

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Eat Well Group's subsidiary, Belle Pulses, reported record financial results for Q2 2022, achieving $15,176,692 in revenue, a 6.8% increase year-over-year. Gross profit soared by 59.6% to $2,032,199, while net earnings surged 295.8% to $1,370,279. These results are attributed to post-COVID market recovery and demand for plant-based foods amid global food security concerns. The company also closed a strategic investment of $5,017,999.50 and resumed its normal course issuer bid for up to 7,686,777 shares.

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Eat Well Investment Group has promoted Patrick Dunn to CFO and appointed him to the Board of Directors. Dunn, with a strong background in agribusiness, previously served as Vice President of Finance. His experience includes significant contributions to plant-based food ventures, notably during his tenure with Verdient Foods. The company also expresses gratitude to former CFO Nick Demare for his foundational role since 2014. Eat Well Group continues to focus on high-growth investments in agribusiness and food tech sectors.

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FAQ

What is the market cap of EAT WELL INVT GROUP (EWGFF)?

The market cap of EAT WELL INVT GROUP (EWGFF) is approximately 19.4M.

What is Eat Well Investment Group Inc. known for?

Eat Well is a Canadian-based company specializing in sustainable, plant-based foods, with a focus on processing, distributing, and marketing premium-quality plant-based products.

How long has Eat Well Investment Group Inc. been in operation?

The company's rich history spans nearly 45 years, establishing it as a prominent player in the plant-based food industry.

What are the key brands owned by Eat Well Investment Group Inc.?

Eat Well owns brands such as Sapientia, Amara Organic Foods, Belle Pulses, and Eat Well, each dedicated to providing high-quality plant-based food products.

What is the geographical reach of Eat Well Investment Group Inc.?

Operating with IP-driven facilities across North America, Eat Well distributes its products to over 35 countries worldwide, showcasing its global presence.

What is the core focus of Eat Well Investment Group Inc.?

Eat Well's primary focus lies in the agribusiness, food tech, plant-based, and ESG sectors, emphasizing health, wellness, sustainability, and innovation in the plant-based food industry.

EAT WELL INVT GROUP INC

OTC:EWGFF

EWGFF Rankings

EWGFF Stock Data

19.44M
155.64M
8.27%
Asset Management
Financial Services
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