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Eat Well Investment Group Inc
Symbol	EWG
Shares Issued	169,661,148
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Eat Well Investment plans name change, continues audit

2024-01-31 16:01 ET - News Release

Subject: Eat Well Group PR Word Document File: '\\swfile\EmailIn\20240131 125313 Attachment Eat Well Group - Audit Update Final.docx' LEGAL_42697029.4 EAT WELL GROUP PROVIDES UPDATE ON AUDIT PROGRESS, CORPORATE EVOLUTION, AND STRATEGIC DIRECTION VANCOUVER, BC, January 31, 2023 - Eat Well Investment Group Inc. (CSE: EWG) (US: EWGFF) (FSE: 6BC0) (or the "Company"), a prominent player in the agriculture and ingredients sector, is pleased to provide a comprehensive corporate update highlighting key advancements. Audit Progress Eat Well is in the final stages of preparing the audit and requires additional adjustments to the tax treatment of specific assets within Belle Pulses USA, necessitating a February filing for the completion of the 2022 year end audit. Post the submission of the amended August 2022 interim accounts, the December 2022 audited consolidated financial statements, and the March, June and September 2023 interim financial statements, the Company will seek approval from the British Columbia Securities Commissions (the "Commission") to lift the cease trade order ("CTO"). As the Company has been cease traded for greater than 90 days, additional filings will be required with the Commission. We expect these additional filings will delay lifting of the CTO by approximately four weeks. Filings will also be required with the CSE for resumption of trading. The Company is optimistic about the future and management eagerly anticipates trade resumption. Corporate Evolution Upon trade resumption, Eat Well will no longer be an "Investment Group", with this in hand, the management of Eat Well is pleased to announce it has reserved the name Agrion International Limited ("Agrion") reflecting its renewed focus and strategic initiative as a global agricultural and ingredients company. As the Company has consolidated its financials, divested non-core assets, and directed its strategic emphasis towards the agricultural and ingredients sector, which stands as its most revenue generating division, Agrion symbolizes the amalgamation of Agriculture with Ingredients-a more accurate representation of the Company's operational scope. Moving beyond the confines of an investment group, Agrion will be better positioned to lead the market in agricultural and ingredient excellence. The Company expects that upon trade resumption, the re-branding will be completed, and the newly consolidated entity will trade under the name Agrion. The Company also expects to change its trading symbol in due course to reflect this new name. Canadian Grants The Company is pleased to announce it has engaged Leyton Consulting ("Leyton") to actively pursue government grants aimed at advancing Belle Pulses technology. This strategic collaboration encompasses a spectrum of opportunities, including interest-free loans, equity investments, all aimed at accelerating the development of domestic out-processing technology. This approach aligns with the Company's core focus on protein processing. By potentially utilizing government grants and other financial instruments, Belle Pulses aims to advance cutting-edge processing techniques and intellectual property (IP), fostering increased collaboration with the Canadian Government, as highlighted by the Company's $24,500,000 refinancing with the Business Development Bank of Canada ("BDC") in Q2 of 2023. This collaborative endeavor extends to the introduction of innovative products and technologies to the market, encompassing propriety ag-tech solutions. This joint effort not only supports the development of advanced processing techniques but also enables the Company to broaden its footprint in the protein and flour industries, including the pet food sector. Leyton is a globally recognized consulting firm specializing in assisting businesses in maximizing financial incentives to expedite their growth and attain sustained performance. With a track record spanning 25 years, over 40,000 clients, and a team of 3,000 employees, Leyton boasts a 96% customer satisfaction rate, consistently delivering substantial results for thousands of companies. The Company looks forward to submitting its audited financial statements in February 2024, and to resume trading as Agrion. The Company remains committed to increasing shareholder value through a focus on profitability, new strategic initiatives, and a commitment to technological disruption within the agricultural sector. "We look forward to filing our audited annual financial statements for the year ended December 31, 2022, and subsequent interim financial statements, and we take pride in reintroducing Eat Well as Agrion moving forward as a focused and stable agriculture and ingredients company," commented Marc Aneed, President, CEO & Director. "With our debt almost entirely restructured, non-core assets divested, and exciting prospects on the horizon, we anticipate a remarkable year ahead. Belle Pulses is set to expand into new countries and sectors, contributing to what we expect to be record revenue and record profitability." About Eat Well Group Eat Well Group is a leading Canadian company, spearheading the future of sustainable ingredients. As the Company strives to be a pioneer in processing, distributing, and marketing premium-quality plant-based foods. Our journey has been marked by a steadfast commitment to excellence, innovation, and global impact. Join Eat Well's mailing list to stay up-to date with corporate updates. Contact Information Eat Well Investment Group Inc. Marc Aneed, CEO ir@eatwellgroup.com www.eatwellgroup.com Disclaimer for Forward-Looking Statements This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable Canadian and United States securities legislation (collectively "forward-looking statements"). Forward-looking information are often, but not always, identified by the use of words such as "seek," "anticipate," "believe," "plan," "estimate," "expect," "likely" and "intend" and statements that an event or result "may," "will," "should," "could" or "might" occur or be achieved and other similar expressions. These forward-looking statements include, but are not limited to, statements related to the timing of filing of financial statements and other delayed filings, future developments and the business and operations of the Company. Such forward-looking statements should not be unduly relied upon. Forward-looking information is based on assumptions that may prove to be inaccurate. The Company considers these assumptions to be reasonable in the circumstances. However, forward-looking information is subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those expressed or implied in the forward-looking information, including the business, financial, credit and other market risks. The forward-looking statements in this news release are made as of the date of this release. The Company disclaims any intention or obligation to update or revise such information, except as required by applicable law. For more information on the Company, its investee companies and the risks and challenges of their businesses, investors should review the Company's continuous disclosure filings that are available at www.sedarplus.ca. The Canadian Securities Exchange has neither approved nor disapproved the information contained herein and does not accept responsibility for the adequacy or accuracy of this news release.