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Proceeds to Enhance Expansion of Innovative Portfolio Including Vegan and CBD Lines
NEW YORK, Jan. 19, 2021 (GLOBE NEWSWIRE) -- Better Choice Company (OTCQX: BTTR) (“Better Choice”) (the “Company”), an animal health and wellness company, today announced the closing of a $2.7 million strategic investment, which will have 50% + participation from existing insiders and management. Use of proceeds will be used to expediate the expansion of innovative new portfolio offerings such as Vegan, CBD and Ultra-Premium product lines, all of which are expected to quickly intensify.
Scott Lerner Chief Executive Officer of Better Choice Company stated, “This latest round of funding further accelerates our timeline for growth in becoming the most innovative premium pet food company in the world. It is exciting to see our internal management team invest alongside strong equity partners as it shows a commitment to the future success of the Better Choice Company.”
Michael Young Chairman of Better Choice Company stated, “With the momentum created by our positioning within the escalating animal health and wellness sector, we are pleased to be in position to be able to cultivate both existing and new relationships for funding needed to ensure our ability to capitalize on these growing trends. We continue to be approached by investment groups who believe in our mission and who agree with current investors, management and insiders that our present valuation remains extremely discounted to like competitors. As Better Choice Company continues to expand our offerings into quickly growing, strategic areas such as Vegan, Premium, Ultra-premium and CBD, our ability to access needed growth capital is imperative. This equity investment led by insiders at $1.25 underpins the growing value of Better Choice.”
About Better Choice Company, Inc.
Better Choice Company Inc. is a growing animal health and wellness company committed to leading the industry shift toward pet products and services that help dogs and cats live healthier, happier and longer lives. We take an alternative, nutrition-based approach to animal health relative to conventional dog and cat food offerings and position our portfolio of brands to benefit from the mainstream trends of growing pet humanization and consumer focus on health and wellness. We have a demonstrated, multi-decade track record of success selling trusted animal health and wellness products and leverage our established digital footprint to provide pet parents with the knowledge to make informed decisions about their pet’s health. We sell the majority of our dog food, cat food and treats under the Halo and TruDog brands, which are focused, respectively, on providing sustainably sourced kibble and canned food derived from real whole meat, and minimally processed raw-diet dog food and treats. For more information, please visit https://www.betterchoicecompany.com.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “is likely,” “will,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. The Company has based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Some or all of the results anticipated by these forward-looking statements may not be achieved. Further information on the Company’s risk factors is contained in our filings with the SEC. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
Better Choice Company, Inc.
Scott Lerner, CEO
KCSA Strategic Communications
Valter Pinto, Managing Director