NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, TO UNITED STATES NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
VANCOUVER, BC / ACCESSWIRE / July 15, 2024 / Nepra Foods Inc. (CSE:NPRA)(FSE:2P6)(OTC PINK:NPRFF) ("Nepra Foods" or the "Company"), is pleased to announce that the Company has reached agreement with the William Hogan (the "Lender") to convert all of the outstanding US$950,000 principal amount of loan advances made to the Company's wholly-owned subsidiary, Nepra Foods Ltd., pursuant to a secured loan agreement dated April 5, 2024 (the "Loan Agreement"), together with accrued and unpaid interest and all other amounts outstanding under the Loan Agreement (collectively, the "Loan Obligations"), which Loan Obligations were set to mature on July 31, 2024, into common shares of the Company ("Common Shares"), at a conversion price equal to C$0.05 per Common Share (the "Conversion Transaction").
The total amount of Loan Obligations which will be converted pursuant to the Conversion Transaction is US$970,551, resulting in the issuance of 26,445,572 Common Shares in satisfaction thereof. Closing of the Conversion Transaction is expected to occur as soon as practicable, but in any event no less than 5 business days from the date hereof, in accordance with the policies of the Canadian Securities Exchange. Upon closing of the Conversion Transaction, all existing security held by the Lender will be released and discharged and the Company will have no further obligations to the Lender under the Loan Agreement.
The Common Shares to be issued pursuant to the Conversion Transaction have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and, accordingly, may not be offered or sold in the United States or to, or for the account or benefit of, "U.S. persons" (as those terms are defined in Regulation S under the U.S. Securities Act) absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. Any Common Shares offered and sold in the United States shall be issued as "restricted securities" as defined in Rule 144(a)(3) under the U.S. Securities Act. This news release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there by any sale of the Common shares in any jurisdiction in which such offer, solicitation or sale would be unlawful.
The Lender is an insider shareholder of the Company. Accordingly, the Lender's participation in the Conversion Transaction constitutes a "related party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Securityholders in Special Transactions ("MI 61-101"). The Company is relying on the exemption from the formal valuation requirement set out in Section 5.5(b) of MI 61-101 on the basis that no securities of the Company are listed or quoted on any of the prescribed exchanges set out therein. The Company is relying on the exemption from the minority approval requirement set out in section 5.7(1)(e) of MI 61-101. Each of the directors of the Company is an "independent director" (as determined in accordance with MI 61-101) in respect of the Conversion Transaction and the board of directors, acting in good faith, unanimously determined that the Company is in serious financial difficulty, that the Conversion Transaction is designed to improve the financial position of the Company, and that the terms of the Conversion Transaction are reasonable in the circumstances of the Company. The Company did not file a material change report 21 days prior to the expected closing of the Conversion Transaction as the structure of the transaction had not been confirmed at that time.
Board Changes
The Company also announces that Mark Olmsted has resigned as a director of the Company, effective July 12, 2024. The Company would like to thank Mr. Olmsted for his years of service to the Company.
About Nepra Foods Inc.
Nepra Foods is grounded in a passion for food. We believe eating healthy should be easy. Everybody deserves food options that are truly nutritious and taste good. Food should be allergen-free so that everyone in the family can enjoy eating it together. Plant-based foods can offer high-quality nutrition and taste great while maintaining a low-carb profile. Nepra Foods is on a mission to make healthy, enjoyable food for everybody.
ON BEHALF OF THE BOARD OF DIRECTORS
David Wood, Chief Operating Officer and Interim CFO
investors@neprafoods.com
Investor Relations Toll-free (844) 566-1917
The CSE has neither approved nor disapproved the contents of this news release. The CSE does not accept responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
This news release contains statements and information that, to the extent that they are not historical fact, constitute "forward-looking information" within the meaning of applicable securities legislation. Forward-looking information may include, without limitation, statements related to the Conversion Transaction, including the timing and completion thereof, and other statements regarding the future developments and the business and options of the Company. Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect.
Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information, including, but not limited to, statements relating to the Company's financial performance, business development, results of operations, and those listed in filings made by the Company with the Canadian securities regulatory authorities (which may be viewed at ). Accordingly, readers should not place undue reliance on any such forward looking information. Further, any forward-looking statement speaks only as of the date on which such statement is made. New factors emerge from time to time, and it is not possible for the Company's management to predict all of such factors and to assess in advance the impact of each such factor on the Company's business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. The Company does not undertake any obligation to update any forward-looking information to reflect information, events, results, circumstances or otherwise after the date hereof or to reflect the occurrence of unanticipated events, except as required by law including securities laws.
SOURCE: Nepra Foods
不得直接或间接分发给美国新闻通讯社或在美国进行传播
不列颠哥伦比亚省温哥华/ACCESSWIRE/2024年7月15日/Nepra Foods Inc.(CSE: NPRA)(FSE: 2P6)(场外交易代码:NPRFF)(“Nepra Foods” 或 “公司”)欣然宣布,公司已与威廉·霍根(“贷款人”)达成协议,将所有未偿还的95万美元预付贷款本金转换为根据2024年4月5日的担保贷款协议(“贷款协议”),该公司的全资子公司Nepra Foods Ltd.,以及应计和未付利息以及贷款协议下的所有其他未偿金额(以下统称为 “贷款债务”),贷款义务定于2024年7月31日到期,转换为公司的普通股(“普通股”),转换价格等于每股普通股0.05加元(“转换交易”)。
根据转换交易将转换的贷款债务总额为970,551美元,因此发行了26,445,572股普通股作为兑换。根据加拿大证券交易所的政策,转换交易预计将尽快完成,但无论如何,自交易之日起不少于5个工作日。转换交易完成后,贷款人持有的所有现有证券将被解除和清偿,根据贷款协议,公司将不对贷款人承担进一步的义务。
根据转换交易发行的普通股过去和将来都不会根据经修订的1933年《美国证券法》(“美国证券法”)或任何州证券法进行注册,因此,除非美国证券法,否则不得在美国发行或出售给 “美国人”,或为其账户或利益发行或出售(这些条款的定义见美国证券法第S条)注册或适用《美国证券法》和适用的州证券注册要求的豁免法律。根据美国《证券法》第144(a)(3)条的定义,在美国发行和出售的任何普通股均应作为 “限制性证券” 发行。本新闻稿不应构成出售要约或收购要约的邀请,也不构成在任何非法的司法管辖区出售普通股的行为。
贷款人是公司的内部股东。因此,贷款人参与转换交易构成了第61-101号多边文书——在特殊交易中保护少数股权持有人(“MI 61-101”)所指的 “关联方交易”。该公司依赖MI 61-101第5.5(b)节中规定的正式估值要求的豁免,理由是该公司的证券均未在其中规定的任何指定交易所上市或上市。该公司依赖密歇根州61-101第5.7(1)(e)节中规定的少数族裔批准要求的豁免。就转换交易而言,公司的每位董事都是转换交易的 “独立董事”(根据MI 61-101确定),董事会本着诚意一致认定公司面临严重的财务困难,转换交易旨在改善公司的财务状况,转换交易的条款在公司的情况下是合理的。由于当时交易结构尚未得到证实,该公司没有在转换交易预计完成前21天提交重大变更报告。
董事会变动
该公司还宣布,马克·奥尔姆斯特德已辞去公司董事职务,自2024年7月12日起生效。公司要感谢奥尔姆斯特德先生多年来为公司提供的服务。
关于 Nepra Foods Inc.
Nepra Foods立足于对食物的热情。我们认为健康饮食应该很容易。每个人都应该选择真正有营养、味道好的食物。食物应不含过敏原,这样家庭中的每个人都可以享受一起吃的乐趣。植物性食物可以提供高质量的营养,口感极佳,同时保持低碳水化合物的含量。Nepra Foods 的使命是为每个人提供健康、愉快的食物。
代表董事会
大卫伍德,首席运营官兼临时首席财务官
investors@neprafoods.com
投资者关系免费电话 (844) 566-1917
CSE既未批准也未批准本新闻稿的内容。CSE对本新闻稿的充分性或准确性不承担任何责任。
前瞻性陈述
本新闻稿包含的陈述和信息,如果不是历史事实,则构成适用的证券立法所指的 “前瞻性信息”。前瞻性信息可能包括但不限于与转换交易相关的陈述,包括转换交易的时间和完成情况,以及有关公司未来发展、业务和期权的其他陈述。前瞻性信息基于管理层根据其经验和对趋势、当前状况和预期发展的看法,以及管理层认为在发表此类陈述之日的情况中具有相关性和合理性但可能被证明不正确的其他因素做出的合理假设、估计、分析和观点。
前瞻性信息涉及已知和未知的风险、不确定性和其他因素,这些因素可能导致公司的实际业绩、业绩或成就与前瞻性信息所表达或暗示的任何未来业绩、业绩或成就存在重大差异,这些前瞻性信息包括但不限于与公司财务业绩、业务发展、经营业绩有关的陈述,以及公司向加拿大证券监管机构提交的文件中列出的陈述(可在上查看)。因此,读者不应过分依赖任何此类前瞻性信息。此外,任何前瞻性陈述仅代表该声明发表之日。新的因素不时出现,公司管理层不可能预测所有这些因素,也无法事先评估每个因素对公司业务的影响,也无法评估任何因素或因素组合在多大程度上可能导致实际业绩与任何前瞻性陈述中包含的结果存在重大差异。除非包括证券法在内的法律要求,否则公司不承担任何义务更新任何前瞻性信息以反映信息、事件、结果、情况或其他方面,也没有义务更新任何前瞻性信息以反映意外事件的发生。
来源:Nepra Foods