Mr. Marc Aneed reports

EAT WELL GROUP COMPLETES SALE OF EQUITY INTEREST IN PATAFOODS FOR US$7 MILLION

Eat Well Investment Group Inc. has closed its previously announced sale of 24 per cent of its 28-per-cent equity ownership in PataFoods Inc., doing business as Amara Organic Foods, for gross proceeds of $7-million (U.S.). For further details about the transaction, please see the company's Nov. 28, 2023, news release.

The proceeds of the transaction will be strategically utilized to significantly reduce the company's higher-interest term and revolving debt facility, settle outstanding trade payables, and advance financial statement audit and other disclosure obligations necessary to have the cease trade order against the company lifted. The company remains on track to complete the necessary audited and interim financial statements, along with the related management discussion and analysis, by Jan. 31, 2024, following which an application will be made to the British Columbia Securities Commission to revoke the cease trade order.

About Eat Well Investment Group Inc.

Eat Well Group is a pioneering Canadian-based company leading the way in the future of sustainable, plant-based foods. With a rich history spanning nearly 45 years, Eat Well has been at the forefront of processing, distributing and marketing premium-quality plant-based ingredients. Operating with IP-driven (intellectual property) facilities in North America, Eat Well distributes to over 30 countries worldwide. With a talented leadership team and over 100 years of collective experience, Eat Well takes pride in its award-winning business, feeding families globally every day.

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