Eat Beyond Reports on the Recent Success of its Portfolio Company good natured® - 03/09/2021 9:00:00 AM
VANCOUVER, BC, March 9, 2021 /PRNewswire/ - Eat Beyond Global Holdings Inc. (CSE: EATS) (OTCPK: EATBF) (FSE: 988) ("Eat Beyond" or the "Company"), an investment issuer focused on the global plant-based and alternative food sector, announced its initial investment in good natured®
Products Inc. (GDNP.V) ("good natured®") has shown strong growth over the past several months.
Eat Beyond purchased a stake in good natured® in November 2020 at $0.14 per share with each share receiving one-half warrant at $0.21.
On March 4, 2021, good natured® announced gross proceeds of $23,115,000 from a short form prospectus offering of common shares at an issue price of $1.20 per common share. This represents an increase in the value of Eat Beyond's stake in good natured® of over 800%.
"Eat Beyond is continuously assessing innovative companies operating in the plant-based food and food tech sector in order to identify opportunities," said Eat Beyond CEO Patrick Morris. "As the first public company in Canada focused exclusively on investing in groundbreaking food companies, we are motivated by success stories like good natured®. Eat Beyond is committed to giving retail investors the chance to participate in the growth of a wide mix of companies in the expanding alternative food sector."
good natured® has established a distinct presence in the market by offering nearly 400 earth-friendly, plant-based products free from chemicals of concern. The plant-based offering simplifies the switch to a sustainable lifestyle for businesses and consumers who can choose affordable, environmentally conscious products and packaging to minimize their waste footprint.
good natured® also recently issued strong preliminary financial data for 2020, projecting revenue to jump nearly 70 percent, eclipsing $16 million
"Eat Beyond looks forward to additional solid revenue reporting from good natured® and all our portfolio companies in the next fiscal year," Morris said. "The rapid growth in consumer demand in the alternative food space shows consumers voting with their wallets and their values. That's reflected in this positive financial news from good natured®."
