Simply Better Brands Corp. announced a non-brokered private placement for 20,000,000 units at a price of CAD 0.25 per unit for aggregate gross proceeds of CAD 5,000,000 on January 26, 2023. The transaction will include participation from new investor VRG Capital Corp., along with Chief Executive Officer of the company, Kathy Casey along with other strategic investors.

Each unit will consist of one common share and one-half of one common share purchase warrant. Each warrant shall be exercisable into one additional common share at an exercise price of CAD 0.45 per warrant for twenty-four months from closing of the offering. The offering is scheduled to close on or about February 6, 2023, or such other date as determined by the company, and is subject to certain conditions including, but not limited to receipt of TSX Venture Exchange acceptance.

The company may pay certain eligible finders a finder's fee comprised of a cash commission of up to 7% of the gross proceeds of the offering and transferable finder's warrants equal to up to 7% of the aggregate number of units sold under the offering. Such finder's warrants shall entitle the holder to acquire one unit of the company at a price of CAD 0.25 for a period of 24 months from the closing date.