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Eat Well Group Announces Engagement of Roth Capital Partners to Explore US Listing
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Eat Well Investment Group Inc. (EWGFF) has appointed Roth Capital Partners as its investment banker to explore US listing options. The company aims to leverage rapidly growing demand in the plant-based food sector, with expectations of over CAD$60 million in revenues for 2021 and targets of CAD$90-$110 million for 2022. President Marc Aneed emphasized the potential for broadening the institutional investor base through a major US exchange listing, citing Roth's sector experience and relationships as crucial for accelerating their goals.
Positive
Appointment of Roth Capital Partners to explore US listing options.
Plant-based food investments expected to generate over CAD$60 million in revenue for 2021.
Targeting revenues of CAD$90-$110 million for 2022, indicating strong growth potential.
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None.
VANCOUVER, British Columbia--(BUSINESS WIRE)--
Eat Well Investment Group Inc., (the “Company” or “Eat Well Group” or “EWG”) (CN:EWG) (US:EWGFF) (FRA:6BC0) today announced that its Board of Directors has engaged Roth Capital Partners (“Roth”) as its Investment Banker to explore US listing alternatives.
“Eat Well Group’s plant-based food investments have created one of the only vertically integrated platforms in the plant-based food industry, and we want to capitalize on the momentum and opportunity we have in our business,” commented Marc Aneed, the Company’s President. “We have always been focused on enhancing shareholder value and believe a listing on a major US exchange will help broaden our institutional investor shareholder base. We expect both Roth’s experience in the health and wellness sector and their institutional investor relationships in the US and abroad to help us accelerate our timing.”
Reaffirmation of Full Year 2021 and 2022 Guidance
Eat Well Group reaffirms its plant-based food investments (Belle Pulses, Sapientia Technology, and Amara Organic Foods) are expected to achieve more than CAD$60 million of revenue in 2021, and the Company is pleased to report it is targeting 2022 revenues of between CAD$90-$110 million for these entities.
To learn more, join Eat Well Group’s mailing list for important updates.
ABOUT EAT WELL GROUP
Eat Well Group is a publicly-traded investment Company primarily focused on high-growth companies in the agribusiness, food tech, plant-based and ESG (environmental, social and governance) sectors. Eat Well Group’s management team has an extensive record of sourcing, financing and building successful companies across a broad range of industries and maintains a current investment mandate on the health/wellness industry. The team has financed and invested in early-stage venture companies for greater than 25 years, resulting in unparalleled access to deal flow and the ability to construct a portfolio of opportunistic investments intended to generate superior risk-adjusted returns.
Disclaimer for Forward Looking Statements
This news release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable Canadian and United States securities laws (collectively, “forward-looking information”). Forward-looking information are often, but not always, identified by the use of words such as “seek,” “anticipate,” “believe,” “plan,” “estimate,” “expect,” “likely” and “intend” and statements that an event or result “may,” “will,” “should,” “could” or “might” occur or be achieved and other similar expressions. Forward-looking information in this news release includes, without limitation, statements relating to the future financial performance of the Company’s investee entities, the anticipated consolidated financial results associated with the portfolio companies. Forward-looking information is based on assumptions that may prove to be incorrect, including but not limited to the ability of the Company to execute its business plan. The Company considers these assumptions to be reasonable in the circumstances. However, forward-looking information is subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those expressed or implied in the forward-looking information. Such risks include, without limitation: the failure to negotiate and execute additional investments in target industries, the ability of the Company to complete investments in a timely manner or at all; the receipt of requisite approvals to complete the additional investments; the ability of the Company to realize the expected benefits and synergies of investments; unexpected disruptions to the operations and businesses of the Company and investee entities as a result of the COVID-19 global pandemic or other disease outbreaks including a resurgence in the cases of COVID-19; the ability of the Company to comply with applicable government regulations in a regulated industry; any change in accounting practices or treatment affecting the consolidation of financial results adverse market conditions; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; costs of inputs; crop failures; litigation; currency fluctuations; competition; availability of capital and financing on acceptable terms; industry consolidation; loss of key management and/or employees; and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. For more information on the Company and the risks and challenges of their businesses, investors should review their annual filings that are available at www.sedar.com.
Financial Outlook.
This news release contains financial outlook as that term is defined in applicable Canadian securities legislation. This financial outlook was approved by management of the Corporation on August 3, 2021. This financial outlook has been provided by management of the Company in order to provide investors and shareholders with an accurate estimate of the anticipated future financial performance of the Company and should not be relied upon for other purposes.
The Canadian Securities Exchange has neither approved nor disapproved the information contained herein and does not accept responsibility for the adequacy or accuracy of this news release.
