Boosh Enters Into US Licensing Agreement and Line of Credit
Boosh Enters Into US Licensing Agreement and Line of Credit
Vancouver, British Columbia--(Newsfile Corp. - August 31, 2023) - Boosh Plant-Based Brands Inc. (CSE: VEGI) (OTCQB: VGGIF) (FSE: 77i) ("Boosh" or the "Company") a premier plant-based brands in the health food sector, announces the entering into of an exclusive US license agreement (the "Licensing Agreement") with Simple Yummy Chips, LLC, (the "Licensee") for the sale and distribution of chips, crackers, rings, and other bean-based snacks made by Beautiful Beanfields Inc. ("Beautiful Beanfields"), a wholly-owned subsidiary of the Company. The Licensee will pay to the Company a license fee equal to seven (7) percent of the cost of goods sold ("COGS"). For further clarity, COGS includes the cost of raw materials, co-manufacturing, packaging, shipping before the finished product, and the warehousing of raw materials. Under the Licensing Agreement, the Licensee will also need to meet annual minimum sales targets.
溫哥華，不列顛哥倫比亞省-(Newsfile Corp.-2023年8月31日)-Boosh基於植物的品牌公司。(CSE：VEGI)(場外市場：VGGIF)(FSE：77i)(“Boosh“或”公司“)一家保健食品領域主要的植物性品牌，宣佈簽訂獨家美國許可協定(The許可協定用簡單的美味薯片，LLC，(The被許可人)銷售和分銷由Beautiful Beanfield Inc.生產的薯片、餅乾、戒指和其他豆類零食(美麗的豆田)。被許可人將向本公司支付相當於所售貨物成本的7%的許可費(齒輪齒“)。為進一步明確起見，COGS包括原材料成本、聯合制造成本、包裝成本、成品前裝運成本和原材料倉儲成本。根據許可協定，持牌人還需要達到每年的最低銷售目標。
Additionally, the Company has entered into a line of credit agreement (the "Line of Credit Agreement") with Tahoe Blue Nutrition, LLC, which will provide for up to $1,000,000 USD to Beautiful Beanfields to cover accounts payable related to production. The line of credit will bear interest pursuant to the terms of a secured promissory note (the "Note"). Until repayment is made in full, interest will accrue on the unpaid principal of advance at a fixed rate of fifteen (15) percent per annum. Beginning on October 1, 2023, the Company will make monthly interest payments for all accrued interest.
此外，本公司已訂立信貸額度協定(“信貸額度協定與Tahoe Blue Nutrition，LLC合作，該公司將向美麗豆田提供高達1,000,000美元的資金，以支付與生產有關的應付賬款。根據有擔保本票的條款，信用額度將計入利息注意事項“)。在全額償還之前，未償還的預付款本金將按固定年利率15%計息。自2023年10月1日起，公司將為所有應計利息按月支付利息。
CEO Connie Marples states, "This arrangement offers many benefits to support the company's growth and provide shareholder value. It allows the tremendous US demand to be met without our capital or resources, while giving us a guaranteed profit and allowing us to focus on Canadian and global growth."
首席執行官康妮·馬普斯表示，這一安排提供了許多好處，以支持公司的增長並提供股東價值。它允許在沒有我們的資本或資源的情況下滿足美國的巨大需求，同時使我們獲得有保證的利潤，並使我們能夠專注於加拿大和全球的增長。
A bit of background on Yummy Chips CEO, Damon Levy. Damon joined Caveman in 2019 to lead digital marketing and moved into the CEO role in 2023. He successfully led the organization through key phases of development, from eCommerce hypergrowth through the challenging market dynamics of Covid. Damon has served in several leadership roles in sales and marketing for Amazon, Minted, and Lolli & Pops.
瞭解一下Yummy Chips首席執行官達蒙·利維的背景。達蒙於2019年加入Caveman，領導數位營銷，並於2023年進入首席執行官一職。他成功地領導該組織度過了發展的關鍵階段，從電子商務的高速增長到Covid具有挑戰性的市場動態。達蒙曾在亞馬遜、薄荷和Lolli&Pops的銷售和營銷方面擔任過幾個領導職務。
Yummy Chip Board Member Chris Running is a serial entrepreneur, Founder or Co-Founder of 10 companies, including Wirestone, a digital marketing agency acquired by Accenture in 2017 for $62M. He co-founded Cytosport Beverage Company, makers of Muscle Milk, acquired by Hormel in 2014 for $480M. Chris also co-founded one of the largest cannabis companies in CA and has served in senior finance positions with Sony Corporation of America.
Yummy晶片董事會成員克裡斯·朗是10家公司的連續創業者、創始人或聯合創始人，其中包括數位營銷機構Wirestone，該公司於2017年被埃森哲以6200萬美元收購。他與人共同創立了Cytosport Beverage Company，這是一家生產肌肉奶的公司，2014年被Hormel以4.8億美元收購。克裡斯還與人共同創立了加州最大的大麻公司之一，並曾在美國索尼公司擔任高級財務職位。
CEO Damon states, "On behalf of Simple Yummy Chips, we cannot contain our excitement at the opportunity to steward the Beanfields brand's growth back into the US market. We are excited to work with wholesale partners throughout the country to bring the best bean-based tortilla chips back to consumers' pantries, cupboards, tailgates, dinner parties, lunch boxes, and wherever else you have been missing them. I want to express my gratitude to Connie and her team at Boosh and we look forward to continuing to collaborate with them."
首席執行官達蒙表示，代表簡單的美味薯片，我們無法抑制我們對有機會將Beanfield品牌的增長帶回美國市場的興奮。我們很高興能與全國各地的批發合作夥伴合作，將最好的豆基玉米片帶回消費者的儲藏室、櫥櫃、後擋板、晚宴、午餐盒，以及任何你一直想念它們的地方。我想對康妮和她在Boosh的團隊表示感謝，我們期待著繼續與他們合作。“
On behalf of the Board of Directors
我謹代表董事會
Connie Marples
康妮·馬普斯
Founder/CEO
hello@booshfood.com
創始人/首席執行官
郵箱：Hello@booshfood.com
About Boosh Plant-Based Brands Inc.:
Boosh以植物為基礎的品牌公司簡介：
Boosh Plant-Based Brands Inc., through its wholly owned subsidiary, Boosh Food (), offers high quality, non-GMO, gluten free, 100% plant-based nutritional comfort foods for the whole family. Through a separate subsidiary, Beautiful Beanfields, the Company owns Beanfields, a plant-based chips brand sold in over 7,000 stores throughout North America. Boosh, good for you and good for planet earth.
Boosh植物性品牌公司通過其全資子公司Boosh Food()為整個家庭提供高質量、非轉基因、無麩質、100%植物性營養舒適食品。通過另一家子公司Beautiful Beanfield，該公司擁有Beanfield，這是一個以植物為基礎的晶片品牌，在北美各地的7000多家商店銷售。布希，這對你和地球都有好處。
The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward-looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward-looking statements. Forward-looking statements in this news release include, but are not limited to: the Licensee may not meet the annual minimum sales targets in the Licensing Agreement; the Company's plan for the proceeds of the Line of Credit Agreement; and the risks and uncertainties discussed in our most recent annual and quarterly reports filed with the Canadian securities regulators and available on the Company's profile on SEDAR at , which risks and uncertainties are incorporated herein by reference. Readers are cautioned not to place undue reliance on forward-looking statements. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.
本新聞稿中的資訊包括與管理層對未來事件、預期、計劃和前景的看法有關的某些資訊和聲明，這些資訊和聲明構成前瞻性聲明。這些陳述是基於受重大風險和不確定因素影響的假設。由於這些風險和不確定因素，以及各種因素的影響，實際結果、預期、成就或業績可能與這些前瞻性陳述中預期和表明的大不相同。本新聞稿中的前瞻性陳述包括但不限於：被許可方可能達不到許可協定中的年度最低銷售目標；公司對信用額度協定收益的計劃；以及我們在提交給加拿大證券監管機構的最新年度和季度報告中討論的風險和不確定性，以及公司在SEDAR中的簡介中討論的風險和不確定性，這些風險和不確定性在此引入作為參考。告誡讀者不要過度依賴前瞻性陳述。除非法律另有要求，否則公司無意更新或修改任何前瞻性陳述，以反映實際結果，無論是由於新資訊、未來事件、假設的變化、影響這些前瞻性陳述的因素的變化或其他原因。
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
加拿大證券交易所及其監管服務提供商(該術語在加拿大證券交易所的政策中定義)均不對本新聞稿的充分性或準確性承擔責任。
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