bettermoo(d) to Raise $10,000,000 at $6.80 per Unit – Eying September Moodrink launch – and Promotes Former Coca-Cola Subsidiary CEO to Chairman, and bettermoo(d) Founder Nima Bahrami as Company’s New CEO

Rhea-AI Summary

bettermoo(d) Food Corporation plans to innovate the dairy-alternative market with its initial product launch of Moodrink. The company aims to raise up to $10 million through a non-brokered private placement. The funds will be used for an advertising campaign promoting Moodrink. The launch in September will focus on the West Coast of Canada, serving as a potential proof-of-concept for the global market. Co-Founder Nima Bahrami takes over as CEO, while Steve Pear becomes the new Chairman.

Positive

• bettermoo(d) plans to innovate the dairy-alternative market with the launch of Moodrink. The company aims to raise up to $10 million through a non-brokered private placement, which could positively impact the stock price. The launch in September, focusing on the West Coast of Canada, offers a huge opportunity for the company to become a new leader in the dairy-alternative sector. The appointment of Nima Bahrami as CEO and Steve Pear as Chairman brings experienced leadership to the company.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / May 5, 2023 / bettermoo(d) Food Corporation (CSE:MOOO), (OTCQB:MOOOF), (Frankfurt:0I5A, WKN:A3D8PP) (the "Company" or "bettermoo(d) Food"), is pleased to announce that bettermoo(d) plans to innovate the dairy-alternative market in September with its initial product launch of its now trademarked Moodrink.

Eying its highly anticipated initial product launch of its first product innovation Moodrink, bettermoo(d) is pleased to announce it will seek to raise up to $10,000,000 at $6.80 a share by way of non-brokered private placement (the "Financing"). The Financing will consist of up to 1,470,588 units, each of which will consist of one (1) common share (each, a "Share") and one (1) common share purchase warrant exercisable at a price of $9.80 per Share for a period of 24 months. The Company may pay finders' fees to eligible third-parties which have assisted in introducing subscribers to the Financing. All securities issued in connection with the Financing will be subject to a statutory hold period for four-months-and-one-day following issuance in accordance with applicable securities laws.

The Company plans to use the majority of the funds towards an advertising campaign promoting the Moodrink to the crowd. The internationally featured Company has developed several innovations based on its claim "What a Cow Eats And a Human Needs".

"With more than 20,000 local retail sample orders and its unique branding and concept, the Company is very confident it will become a new leader in the dairy-alternative sector. The launch on the West Coast of Canada in September, focusing on our founder's home country, is seen as a potential proof-of-concept for the global market which offers a huge opportunity", states Steve Pear, Former Coca-Cola-Executive and new Chairman of the Company. Co-Founder Nima Bahrami who already was featured in Canada's food & beverage magazine Food In Canada is now taking over the role as the new CEO of the Company as Steve Pear becomes the new Chairman of bettermoo(d).

The bettermoo(d) product line will be the first of its kind that will include alpine cow's natural food habits without involving any cows and emulating the original taste of cow milk using only high-quality ingredients. The Company has raised more than $7 million since its inception during the pandemic when it also brought on international Canadian music legend Bryan Adams as a founding member while developing new innovations in the dairy replacement industry such as Moodrink, Moogurt and b(u)etter.

"bettermoo(d)'s awesome team is looking forward to finally launching its highly anticipated Moodrink which got tremendous feedback when we first unveiled our formula at one of Canada's leading plant-food-exhibitions. We, as a Company, are not only committed to creating significant shareholder value but also better products for a better you. I can't wait to enter this upcoming and very exciting phase of building our Company towards becoming a leading market player in the industry", states Nima Bahrami, CEO & Co-Founder of bettermoo(d).

ABOUT BETTERMOO(D) FOOD CORPORATION

bettermoo(d) Food Corporation is an innovative plant-based dairy alternative food and beverage company based in Vancouver, British Columbia Canada, with an established award-winning vegan cheese company located in in Europe, and an anticipated dairy-alternative beverage, Moodrink, that is set to launch across Canada in the early days of Summer 2023.

Driven by the motto "What A Cow Eats and A Human Needs" bettermoo(d) seeks to produce dairy alternative products that are good for both people and the planet - ensuring that all products are nutritious and sustainably sourced, and that also emulate the great taste of traditional milk from the Alps regions of Switzerland, France and Austria. Working with food scientists the Company's goal is to conduct continuous food research and development programs with the goal of rolling out a full line of dairy alternative products that are better for YOU and better for the planet.

ON BEHALF OF THE BOARD of DIRECTORS

Steve Pear
Chief Executive Officer and Director
bettermoo(d) Food Corporation

For further information please contact:

Email: investors@bettermoodfoodcorporation.com
Website: www.bettermoo.com
Phone: 1-855-715-1865

The CSE does not accept responsibility for the adequacy or accuracy of this release.

This news release may contain certain forward looking statements and forward looking information (collectively, "Forward-Looking Statements") within the meaning of the applicable Canadian and U.S. securities laws, including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein including, without limitation, statements with respect to the anticipated commercial production of Moodrink, are forward-looking statements. When or if used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and similar words or expressions identify forward-looking statements or information. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules, and regulations.

SOURCE: bettermoo(d) Food Corporation

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FAQ

What is bettermoo(d)'s initial product launch?

bettermoo(d) plans to launch Moodrink, its first product innovation in the dairy-alternative market.

How much does bettermoo(d) plan to raise through the private placement?

bettermoo(d) aims to raise up to $10 million through a non-brokered private placement.

What will the funds be used for?

The majority of the funds will be used for an advertising campaign promoting Moodrink.

When will the launch take place?

The launch is planned for September.

Who is the new CEO of bettermoo(d)?

Nima Bahrami is the new CEO of bettermoo(d).

Who is the new Chairman of bettermoo(d)?

Steve Pear is the new Chairman of bettermoo(d).