Not for distribution to United States newswire services or for dissemination in the United States
VANCOUVER, BC / ACCESSWIRE / March 19, 2021 / NHS Industries Ltd. (CSE:NHS) (the "Company" or "NHS") is pleased to announce that it has executed an acquisition agreement with Be Good Plant Based Foods Ltd ("Be Good"), pursuant to which NHS will acquire a 100% interest in the plant based foods company in exchange for common shares of NHS Industries Ltd.
It is anticipated that the completion of the acquisition will involve, among other things, the following steps:
- NHS will issue an aggregate of 22,050,000 common shares to the holders of 100% of Be Good shares, on a pro rata basis, in exchange for their 22,050,000 Be Good common shares;
- Execution of satisfactory employment or consulting agreements with the principals of Be Good;
The acquisition is structured as a share exchange, such that Be Good will become a wholly owned subsidiary of NHS upon closing. Following closing current NHS shareholders will retain a 52% interest in the capital of NHS.
"We are excited to be acquiring Be Good and welcome the Be Good team to NHS", commented Robert Nygren, CEO of NHS. "Along with NHS' Plenty-Full food delivery subsidiary and its interest in a Richmond based commercial kitchen, the company will look to vertically integrate itself into the plant based ecosystem, including the development, licence, production, sales and delivery of what is becoming one of the most important new segments in the health, wellness and food industry."
About Be Good Plant Based Foods Ltd.
Be Good Plant Based Foods currently is launching its plant based chicken, pork and beef products as well as is investing in the research and development of keto-friendly plant based candy products . The company is launching its e-commerce platform with eight initial plant-based meat SKU's including: chicken tenders, chicken nuggets, pork cutlets, beef burgers and more.
More information about Be Good can be found at www.begoodfoods.net and at www.instargram.com/begoodfoodco.
About NHS Industries Ltd.
NHS is an agri-food holdings company focused on innovative products and technologies in the food services industry.
For further information about NHS, please consult the Company's profile on SEDAR at www.sedar.com.
On Behalf of the Board of Directors
Robert Nygren
Chief Executive Officer
info@nhsindustries.ca
(800) 970-2389
WWW.NHSINDUSTRIES.CA
This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to completion of planned improvements on schedule and on budget, the availability of financing needed to complete the Company's planned improvements on commercially reasonable terms, delays in obtaining statutory and/or regulatory approval for production plans, the ability to mitigate the risk of loss through appropriate insurance policies, among others. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required under applicable securities legislation. This news release does not constitute an offer to sell securities and the Company is not soliciting an offer to buy securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
This news release does not constitute an offer of securities for sale in the United States. These securities have not and will not be registered under United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States or to a U.S. Person unless so registered, or an exemption from registration is relied upon.
The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.
SOURCE: NHS Industries Ltd.
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https://www.accesswire.com/636386/NHS-Industries-to-Add-Be-Good-Plant-Based-Foods-Ltd-to-Its-Food-Business-Portfolio
