Else Nutrition Plant Based Baby Formula (BABY) (BABYF) (OYL)



Else Nutrition Plant Based Baby Formula (BABY) (BABYF) (OYL) – OCTOBER 21, 2020 – RICH TV LIVE – ELSE NUTRITION HOLDINGS INC. (TSXV: BABY) (OTCQX: BABYF) (FSE: 0YL) (‘Else’ or the ‘Company’), is pleased to announce that it has closed its previously announced upsized bought deal public offering of units (the ‘Units’) for aggregate gross proceeds of approximately CAD$20.7 million, including the exercise of the over-allotment option in full (the ‘Offering’).

The Company issued 9,200,000 Units at a price of CAD$2.25 per Unit, each Unit consisting of one common share of the Company (a ‘Share’) and one-half of one common share purchase warrant, with each whole warrant (a ‘Warrant’) entitling the holder to purchase one Share at the price of CAD$3.25 per Share until October 6, 2022. The Company has received approval from the TSX Venture Exchange (‘TSXV’) to list the Warrants issued pursuant to the Offering, and the Warrants are expected to be listed and posted for trading on the TSXV under the ticker symbol ‘BABY.WT’ effective on or about October 8, 2020.

Concurrent with the Offering, the Company issued 2,224,111 Units on a private placement basis, for additional gross proceeds of approximately CAD$5 million (the ‘Private Placement’). New H2 Limited (‘New H2’), a wholly owned subsidiary of Health and Happiness (H&H) International Holdings Ltd, a Hong Kong Stock Exchange company (HK:1112), subscribed for CAD$4,000,000 worth of Units in the Private Placement pursuant to a previously disclosed investor rights agreement dated March 2, 2020 between the Company and New H2.

About Else Nutrition Holdings Inc.

Else Nutrition GH Ltd. is an Israel-based food and nutrition company focused on developing innovative, clean and plant-based food and nutrition products for infants, toddlers, children, and adults. Its revolutionary, plant-based, non-soy, formula is a clean-ingredient alternative to dairy-based formula. Else Nutrition (formerly INDI) won the ‘2017 Best Health and Diet Solutions’ award at the Global Food Innovation Summit in Milan. The holding company, Else Nutrition Holdings Inc, is a publicly traded company, listed on the TSX Venture Exchange under the trading symbol BABY and is quoted on the US OTC Markets QX board under the trading symbol BABYF and on the Frankfurt Exchange under the symbol 0YL.

Else’s Executives includes leaders hailing from leading infant nutrition companies. Many of Else advisory board members had past executive roles in companies such as Mead Johnson, Abbott Nutrition, Plum Organics and leading infant nutrition Societies, and some of them currently serve in different roles in leading medical centers and academic institutes such as Boston Children’s Hospital, Pediatrics at Harvard Medical School, USA, Tel Aviv University, Schneider Children’s Medical Center of Israel, Rambam Medical Center and Technion, Israel and University Hospital Brussels, Belgium. #ELSENUTRITION #BABY #RICHTVLIVE

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