Cannibble Announces LOI for Acquisition of Eshbal Functional Foods an Israeli Food Tech Manufacturer
Cannibble Announces LOI for Acquisition of Eshbal Functional Foods an Israeli Food Tech Manufacturer
Rosh Haayin, Israel--(Newsfile Corp. - August 29, 2022) - Cannibble Foodtech Ltd., (CSE: PLCN) ("Cannibble" or the "Company"), an Israeli food-tech company that develops and manufactures food and beverage products that are enhanced variously with hemp seeds, hemp protein, and other hemp ingredients, where legal to do so, is pleased to announce that it has entered into a partially binding letter of intent with Eshbal Functional Foods Cooperative Ltd. ("Eshbal") contemplating the acquisition (the "Proposed Acquisition") by Cannibble of all the outstanding membership interests of Eshbal from the members of Eshbal (the "Vendors"). If completed, the Proposed Acquisition will expand Cannibble's business in the global health and wellness market.
以色列Rosh Haayin-(Newsfile Corp.-2022年8月29日)-Cannibble FoodTech Ltd.(CSE：PLCN)(““罐頭炸彈”“或”公司)，一家以色列食品技術公司，開發和製造使用大麻種子、大麻蛋白和其他大麻成分進行不同程度增強的食品和飲料產品，在合法的情況下這樣做是合法的，該公司高興地宣佈，它已經與Eshbal Functional Foods Coop Ltd.()簽訂了一份具有部分約束力的意向書。以實巴勒“)考慮收購(The”擬議中的收購“)Cannibble從Eshbal的成員那裏獲得Eshbal所有未償還的成員權益(The”賣主如果完成，擬議中的收購將擴大Cannibble在全球健康和保健市場的業務。
Eshbal is a private Israeli food manufacturer established in 1940. Eshbal develops and produces unique formulations of: nutraceuticals, medicinal foods, sugar-free and gluten-free products, vegan products, syrups, and dry mixes including sweeteners. Eshbal focuses on the development of unique formulations of functional foods that it believes promote health beyond their nutritional values, incorporating development and production capabilities for retail brands, private labels, and B2B. Eshbal's production and R&D capabilities include development of propriety formulations, mixing of various powders and cereals, cooking and preparation of syrups and spreads, baking of gluten-free, sugar-free, keto-friendly through diverse packaging technologies. Eshbal's gluten free products can be found in almost every supermarket as well as other food retailers and health stores throughout Israel.
Eshbal是一家以色列私營食品製造商，成立於1940年。Eshbal開發和生產以下產品的獨特配方：營養食品、藥用食品、無糖和無麩質產品、素食產品、糖漿和包括甜味劑在內的幹混合物。Eshbal專注於開發其認為超越其營養價值促進健康的獨特功能食品配方，整合了零售品牌、自有品牌和B2B的開發和生產能力。Eshbal的生產和研發能力包括開發合適的配方，混合各種粉末和穀類食品，烹飪和製備糖漿和糖漿，通過不同的包裝技術烘焙無麪筋、無糖、對酮友好的產品。Eshbal的無麩質產品在以色列各地的幾乎每一家超市以及其他食品零售商和健康商店都可以找到。
Yoav Bar-Joseph, CEO and director of Cannibble: "The proposed acquisition of Eshbal will mark a significant step in Cannibble's development and coincides with the growth in consumer demand for gluten/sugar-free products, vegan, dietary supplements, and milk and meat substitutes. Our intention with this proposed acquisition is to position Cannibble as a leader in the US health and wellness "better-for-you" market, which is predicted to reach US$298.3 billion in the year 2022 [1]."
食肉公司首席執行官兼董事首席執行官約阿夫·巴爾-約瑟夫：“擬議中的收購Eshbal將標誌着食肉公司在發展中邁出了重要的一步，同時也與消費者對面筋/無糖產品、素食、膳食補充劑以及牛奶和肉類替代品的需求增長相吻合。我們提議進行此次收購的目的是將罐頭公司定位為美國健康和保健產品市場的領導者，預計2022年這一市場規模將達到2983億美元[1]."
Yuval Levy, Chairman of Eshbal Functional foods: "The merger of Eshbal and Cannibble directly fits the strategy of both companies. Eshbal brings unique know-how and food technology while Cannibble brings North American market experience and presence. We believe that the accumulated experience of both managements will drive market success and quick growth of the combined company in this high growth sector of "better-for-you" food products."
Eshbal功能食品公司董事長尤瓦爾·利維：“Eshbal和Cannibble的合併直接符合兩家公司的戰略。Eshbal帶來了獨特的技術訣竅和食品技術，而Cannibble帶來了北美市場經驗和存在。我們相信，兩家管理層積累的經驗將推動合併後的公司在這個‘對你更好’的高增長食品領域取得市場成功和快速增長。”
Acquisition Terms
收購條款
It is anticipated that the Proposed Acquisition will be an all shares transaction, with the Vendors receiving in the aggregate ordinary shares of Cannibble ("Cannibble Shares") equal to 50% of the issued and outstanding Cannibble Shares at closing of the Proposed Acquisition ("Closing"), and with Cannibble issuing up to another 20% (of the number of Cannibble Shares issued and outstanding at Closing) of Cannibble Shares to the Vendors subject to Eshbal achieving certain sales or profitability milestones within six years of Closing. The Proposed Acquisition is expected to be a fundamental acquisition for Cannibble under the policies of the Canadian Securities Exchange ("CSE") and will be subject to CSE and Cannibble shareholder approval. Following Closing, Eshbal will be a wholly-owned subsidiary of Cannibble. At Closing, it is expected that Yuval Levy will join the board of Cannibble as chairman and Ronit Vivante will join Cannibble as chief financial officer.
預計擬議的收購將是一項全股票交易，賣方總共將獲得Cannibble的普通股(Cannibble股票“)相當於擬議收購完成時已發行和已發行的Cannibble股份的50%(”結業“)，Cannibble將向供應商發行至多20%的Cannibble股票(成交時已發行和已發行的Cannibble股票數量)，但Eshbal必須在交易完成後六年內實現一定的銷售或盈利里程碑。根據加拿大證券交易所(Canada Securities Exchange)的政策，擬議中的收購預計將是Cannibble的一項基本收購(”CSE“)，並將得到CSE和Cannibble股東的批准。完成交易後，Eshbal將成為Cannibble的全資子公司。在完成交易時，預計Yuval Levy將加入Cannibble董事會擔任董事長，Ronit Vivante將加入Cannibble擔任首席財務官。
The completion of the Proposed Acquisition is subject to the negotiation and signing of a definitive agreement in respect of the Proposed Acquisition, completion of due diligence by the parties, completion of a private placement by Cannibble of a minimum financing of C$4,000,000 (the "Minimum Financing"), receipt of all applicable governmental, regulatory and contractual third party approvals, including approval of the Canadian Securities Exchange, and other conditions precedent and closing conditions customary for similar transactions to the Proposed Acquisition.
擬議收購的完成取決於談判和簽署關於擬議收購的最終協議、各方完成盡職調查、由Cannibble完成最低融資4,000,000加元(“最低融資額“)，獲得所有適用的政府、監管和合同第三方批准，包括加拿大證券交易所的批准，以及與擬議收購類似交易的其他先決條件和成交條件。
About Cannibble
關於卡尼勃
Cannibble is a food-tech company that develops and manufactures food and beverage products variously enhanced with hemp seeds, hemp protein, and other hemp ingredients, where legal to do so. Cannibble has developed proprietary formulas for food and beverage products enhanced with hemp seeds and protein, targeted for the "Better-for-You" segment. The products are sugar free, dairy free, plant based, non GMO, and marketed under Cannibble's brand name "The Pelicann™".
Cannibble是一家食品科技公司，在合法的情況下，開發和製造使用大麻種子、大麻蛋白和其他大麻成分增強的食品和飲料產品。Cannibble已經為食品和飲料產品開發了專有配方，這些產品使用大麻種子和蛋白質增強，目標是“對你更好”的細分市場。這些產品是無糖、無乳製品、植物性、非轉基因的，並以食人魚的品牌名稱“The Pelicann™”銷售。
Cannibble has developed over 100 product SKUs, of which 40 have been manufactured to date. For more information about Cannibble and its business, visit .
Cannibble已經開發了100多個產品SKU，其中40個到目前為止已經生產出來。有關Cannibble及其業務的更多信息，請訪問。
About Eshbal
關於以實巴勒
Eshbal develops and produces unique formulations of: nutraceuticals, medicinal foods, sugar-free and gluten-free products, vegan products, syrups, and dry mixes including sweeteners and a line of keto products. Eshbal focuses on the development of unique formulations of functional food products that it believes promote health beyond their nutritional values for retail brands, private labels, and B2B. Eshbal's products can be found in almost every supermarket as well as other food retailers and health stores throughout Israel. For firther information see Eshbal's website at .
Eshbal開發和生產以下產品的獨特配方：營養食品、藥用食品、無糖和無麩質產品、素食產品、糖漿以及包括甜味劑和一系列酮類產品在內的幹混合物。Eshbal專注於開發獨特的功能性食品配方，它認為這些產品不僅可以促進零售品牌、自有品牌和B2B的營養價值，還可以促進健康。Eshbal的產品在以色列各地的幾乎每一家超市以及其他食品零售商和健康商店都可以找到。有關更多信息，請參見Eshbal的網站。
Yoav Bar-Joseph, CEO and director
Email: yoav.b@cannibble.world
Tel: +1 (786) 322 6055
董事首席執行官約阿夫·巴爾-約瑟夫
電子郵件：yoav.b@canibble.world
電話：+1(786)322 6055
Cautionary Statement
警示聲明
Certain statements in this news release constitute "forward-looking information" under applicable Canadian securities laws. Words such as plan, anticipate, believe, estimate, expect, may, intend, and similar expressions, as they relate to Cannibble or its management, identify forward-looking information. Forward-looking information in this news release relates to the Proposed Acquisition and the benefits that Cannibble expects to realize from the Proposed Acquisition, Cannibble's expectations for growth of the global health and wellness market and the timing for these future events. Cannibble can give no assurance that it will be successful in completion the Proposed Acquisition. Forward‐looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond Cannibble's control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward‐looking information. Risks associated with the Proposed Acquisition include those related to the parties' ability to negotiate and sign a definitive agreement, obtain the necessary shareholder and regulatory approvals, complete the Minimum Financing, and the timing for the completion of all these events, as well as the risk, assuming the Proposed Acquisition does complete, that the anticipated benefits of the Proposed Acquisition do not materialize. Cannibble does not undertake any obligation to update such forward‐looking information whether because of new information, future events or otherwise, except as expressly required by applicable law.
根據適用的加拿大證券法，本新聞稿中的某些陳述構成“前瞻性信息”。像這樣的詞計劃、預期, 相信, 估算, 期望的、可能的、打算的，以及類似的表述，當它們與Cannibble或其管理有關時，識別前瞻性信息。本新聞稿中的前瞻性信息涉及擬議的收購和Cannibble預計從擬議的收購中實現的好處，Cannibble對全球健康和保健市場增長的預期，以及這些未來活動的時機。Cannibble不能保證它將成功完成擬議中的收購。前瞻性信息基於許多假設，受許多風險和不確定因素的影響，其中許多風險和不確定因素超出了Cannibble的控制範圍，可能導致實際結果和事件與前瞻性信息中披露或暗示的情況大不相同。與擬議收購相關的風險包括與各方談判和簽署最終協議、獲得必要的股東和監管機構批准、完成最低融資以及完成所有這些事件的時間的能力有關的風險，以及假設擬議收購確實完成的風險，即擬議收購的預期收益沒有實現。除非適用法律明確要求，否則由於新信息、未來事件或其他原因，Cannibble不承擔更新此類前瞻性信息的任何義務。
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