Vancouver, British Columbia--(Newsfile Corp. - August 17, 2022) - Boosh Plant-Based Brands Inc. (CSE: VEGI) (OTCQB: VGGIF) (FSE: 77i) ("Boosh" or the "Company") a premier plant-based brand in the "better for you" food sector, provides the following corporate update.
- Boosh lists products with additional distributor in Canada to reach more retailers. Horizon Grocery + Wellness is Western Canada's leading distributor of organic and natural foods, and nutritional health supplements. Horizon is the supplier of major natural, grocery and independent grocery chains, independent natural health stores, buying clubs, restaurants, cafes, and specialty retailers. Boosh will also utilize the services of their subsidiary, PSC Natural Foods natural and organic food distributor serving Vancouver Island and the Lower Mainland.
- Boosh Plant-Based Brand's newest Line, Amuse Boosh, is currently shipping Nationwide. Amuse offers a delectable selection of fine vegan cheese and pate that is sure to please any discerning palate.
- Boosh Mac n Cheese Shelf Stable product just listed at Georgia Main (24 IGA and 5 Fresh St Markets)
- Sales update
- Boosh has secured a lease for Head Quarters at # 205- 18428 53 Ave Surrey BC with Warehouse and Office space. Previous lease ends Aug 31, 2022. New Lease is in newer building and represents over 60% cost savings. (Previous lease and overhead was $156,889.00 annually and new one is $59,992.00)
- Nobu Mano joins Boosh as Controller and brings 17 years in accounting with CPA, CA designation since 2009. Nobu has worked within the Food and Manufacturing industry for over 6 years and has audit experience in food companies, and manufacturing companies. His wealth of knowledge is well-suited for the company.
- The Company is providing this bi-weekly update on the status of the management cease trade order granted on August 2, 2022 (the "MCTO") by its principal regulator, the British Columbia Securities Commission under National Policy 12-203 -Management Cease Trade Orders ("NP 12-203"), following the Company's announcement on August 2, 2022 (the "Default Announcement") that it was unable to file its audited annual financial statements for the year ended March 31, 2022, and accompanying management's discussion and analysis, annual information form and related certifications (collectively, the "Documents") on or before August 2, 2022, as required under applicable securities laws. The MCTO does not affect the ability of investors who are not insiders to trade in the securities of the Company.
The Company reports that: (i) there are no changes to the information contained in the bi-weekly status updated dated August 2, 2022, that would reasonably be expected to be material to an investor; (ii) the Company is satisfying and confirms that it intends to continue to satisfy the provisions of the alternative information guidelines under NP 12-203 and issue bi-weekly default status reports for so long as the delay in filing the Documents is continuing, each of which will be issued in the form of a press release; (iii) there has not been any other specified default by the Company under NP 12-203, and, except as set forth below, no such other default is anticipated; (iv) the Company is not subject to any insolvency proceedings; and (v) there is no material information concerning the affairs of the Company that has not been generally disclosed.
The Company continues to work with its auditors to complete the audit of the Company's consolidated financial statements and expects to file the Documents by August 31, 2022. The delays primarily result from the close proximity of the Company's acquisition of substantially all of the assets of Beanfields, Inc. on February 16, 2022 and the Company's financial year end of March 31 and the work required to consolidate those operations.
Telephone: 778 840 1700
About Boosh Plant-Based Brands Inc.:
Boosh Plant-Based Brands Inc., through its wholly owned subsidiary, Boosh Food (www.booshfood.com), offers high quality, non-GMO, gluten free, 100% plant-based nutritional comfort foods for the whole family. Through a separate subsidiary, Beautiful Beanfields, the Company owns Beanfields, a plant-based chips brand sold in over 7,000 stores throughout North America. Boosh, good for you and good for planet earth.
The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward-looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward-looking statements. Forward-looking statements in this news release include, but are not limited to, the Company's expectations concerning the size of the Financing, its ability to close the Financing in whole or in part or at all and its plan for the proceeds of the Financing. Any number of factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although the Company believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statements will prove to be correct. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
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