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Vancouver, B.C., Feb. 21, 2023 (GLOBE NEWSWIRE) -- Eat & Beyond Global Holdings Inc. (CSE: EATS) (OTCQB: EATBF) (FSE: 988) ("Eat & Beyond" or the "Company"), an investment issuer focused on the global plant-based and alternative food sector, is announcing that the Company intends to consolidate the common shares in the capital of the Company (the "Shares") on the basis of a one (1) post-consolidated Share for each seven (7) pre-consolidated Shares (the "Consolidation"). The proposed Consolidation is subject to the approval of the Canadian Securities Exchange (the "CSE"). The Company's name and stock symbol are currently expected to remain unchanged following the Consolidation.

The Company currently has 56,896,116 Shares issued and outstanding and if the proposed Consolidation is undertaken, then the Company will have approximately 8,128,116 Shares issued and outstanding.

In conjunction with this Consolidation the company will proceed with a non-brokered private placement of up to 5,000,000 post consolidation shares of the Company (the "Private Placement Share") at $0.20 per share for gross proceeds of up to $1,000,000 (the "Offering").

The Company may pay a finder's fee on the Offering within the amount permitted by the policies of the Canadian Securities Exchange (the "CSE"). Closing of the Offering is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including the CSE. All securities issued in connection with the Offering will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation. The proceeds from the Offering will be used for general working capital.

About Eat & Beyond Global Holdings

Eat & Beyond Global Holdings Inc. ("Eat & Beyond") (CSE: EATS) (OTCPK: EATBF) (FSE: 988) is an investment issuer that makes it easy to invest in the future of food. Eat & Beyond identifies and makes equity investments in global companies that are developing and commercializing innovative food tech as well as plant-based and alternative food products. Led by a team of food industry experts, Eat & Beyond is the first issuer of its kind in Canada, providing retail investors with the unique opportunity to participate in the growth of a broad cross-section of opportunities in the alternative food sector, and access companies that are leading the charge toward a smarter, more secure food supply. Learn more:

Find Eat & Beyond on Social Media on LinkedIn, Instagram, Twitter and Facebook

For media inquiries, please contact: Brittany@Exvera.com

For investment inquiries, please contact: Info@EatandBeyond.com

For further information, please contact Michael Aucoin at Info@EatandBeyond.com or (604) 416-4099

The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its
Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release

CAUTIONARY STATEMENT REGARDING "FORWARD‐LOOKING" INFORMATION:

This news release contains forward‐looking statements within the meaning of the Canadian securities laws (together, "forward‐looking statements"). Such forward‐looking statements may include but are not limited to the sales of Common Shares under the Distribution Agreement, the amount of proceeds and the use of proceeds from such sales, the Company's plan of distribution as set out in the Prospectus Supplement and the accompanying Base Shelf Prospectus, including the documents incorporated by reference therein that may not be based on historical fact. Forward‐looking information includes statements that may relate to our plans, objectives, goals, strategies, future events, future revenue or performance, capital expenditures, financing and other information that is not historical information. These statements appear in a number of different places in this prospectus and can often be identified by words such as "anticipates", "estimates", "projects", "expects", "intends", "believes", "plans", "will", "could", "may", or their negatives or other comparable words. Such forward‐looking information is necessarily based on estimates and involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward‐looking information. Annual Information Form and Material Change Reports filed with the Canadian Securities Administrators available at .

The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.