Simply Better Brands Corp. announced a non-brokered private placement of up to 5,714,285 units at a price of CAD 0.35 per unit for aggregate gross proceeds of up to CAD 1,999,999.75 on April 17, 2024. Each unit will consist of one common share and one-half of one share purchase warrant.

Each warrant will entitle the holder thereof to purchase one additional share at an exercise price of CAD 0.45 per share for a period of 24 months following the closing of the transaction. The transaction is expected to occur on or about April 25, 2024, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the conditional approval from the TSX Venture Exchange. The company may pay certain eligible finders a cash fee of up to 7% of the gross proceeds raised in respect of the transaction from subscribers introduced by such finders to the company.

The company may also issue to eligible finders such number of common share purchase warrants equal to 7% of the number of units sold under the transaction to subscribers introduced by such finders to the company.