VANCOUVER, British Columbia--(BUSINESS WIRE)--Eat Well Investment Group Inc. (CSE: EWG) (US: EWGFF) (FSE: 6BC0) (“Eat Well” or the “Company”) announces its intention to proceed with a normal course issuer bid (“NCIB”) for up to 7,686,777 common shares in the capital of the Company (the “Shares”), representing five percent of total Shares issued and outstanding. As at June 21, 2022, the Company had 153,735,547 Shares issued and outstanding.
All Shares purchased under the NCIB are being purchased on the open market through the facilities of the Canadian Securities Exchange (the “CSE”) as well as through other designated exchanges and alternative trading systems in Canada in accordance with applicable regulatory requirements. All Shares purchased will be at the prevailing market price at the time of purchase and will be subsequently cancelled. The NCIB will be conducted through Pacific International Securities in accordance with the policies of the CSE.
The NCIB will commence on June 27, 2022 and end no later than June 26, 2023. The Company may terminate the NCIB earlier if it feels it is appropriate to do so. Although Eat Well intends to purchase Shares under its NCIB, there can be no assurance that any such purchases will be completed.
The Company believes that the purchase of the Shares will increase the proportionate interest of, and be advantageous to, all remaining security holders. The normal course purchases will also afford an increased degree of liquidity in the market. The Company believes that the purchase of the Shares would be in the best interest of the Company’s shareholders.
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About Eat Well
Eat Well 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’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 certain forward-looking information and forward-looking statements within the meaning of applicable Canadian and United States securities legislation (collectively “forward-looking statements”). 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. These forward-looking statements include, but are not limited to, the expectations of management with respect to the anticipated NCIB. Such forward-looking statements should not be unduly relied upon. Forward-looking information is based on assumptions that may prove to be incorrect. 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. For more information on the Company, its investee companies and the risks and challenges of their businesses, investors should review their annual filings that are available at www.sedar.com.
The CSE has neither approved nor disapproved the information contained herein and does not accept responsibility for the adequacy or accuracy of this news release.