The TSX Venture Exchange has accepted for filing documentation with respect to the acquisition of the remaining 20-per-cent ownership interest of Fab Nutrition LLC not previously held by the company via the exercise of a put option disclosed by the company on May 10, 2021. The put option granted the founder of Fab Nutrition an option to put the remaining shares of Fab Nutrition to the company at an enterprise value equal to the trailing 12 months of EBITDA (earnings before interest, taxes, depreciation and amortization) multiplied by six. The put option was exercised by the vendor on Sept. 20, 2022. As consideration for the remaining 20 per cent of Fab Nutrition, the company issued to the vendor 386,035 common shares of the company at a deemed price of $1.9372 per share.

In connection with the transaction, the company issued 37,552 common shares of the company as a finder's fee to an arm's-length party, at a deemed price of $1.3189 (U.S.) per share.

Insider/pro group participation:  none

For further details, please refer to the company's news releases dated May 10, 2021, and May 23, 2023.