Vancouver / BC. (ebg) Eat Beyond Global Holdings Inc., an investment issuer focused on the global plant-based and alternative protein sector, is pleased to announce that it has entered into a definitive arrangement agreement with Mylk Brands Inc., a British Columbia corporation and sole shareholder of Fresh Start Beverage Company d/b/a Banana Wave. Pursuant to the Agreement, the Company will acquire all of the issued and outstanding common shares of Mylk Brands Inc. by way of a court approved plan of arrangement for total consideration of approximately CAD 11,500,000 in common shares of Eat Beyond at a deemed price of CAD 0.52, being the closing price of Eat Beyond Shares on Canadian Securities Exchange.
Banana Wave is based in Boca Raton, Florida. Banana Wave’s beverages are made from fiber-rich oats and real bananas. They are available in five different flavors: original, unsweetened original, mango, chocolate, and strawberry. All varieties are gluten-free, soy-free, and non-GMO with 90 calories or fewer, and contain vitamin b, potassium, fiber, and protein.
Michael Aucoin, Eat Beyond’s Chief Executive Officer, commented «We are delighted to be adding Mylk Brands and the Banana Wave brand to the roster of Eat Beyond portfolio companies. Banana Wave offers a truly unique consumer plant-based proposition combining truly great taste as well as nutrition. We believe that Banana Wave will be a pillar in the re-definition of food as the world migrates to an increasingly plant-based diet.»
Steve Gelerman, Mylk’s Chief Executive Officer, stated «We are delighted to be able to partner with the Eat Beyond team to help accelerate and unlock the true potential of Banana Wave. We have had tremendous early success and momentum in building the brand and with the financial resources and advisory capabilities of Eat Beyond, we intend to make Banana Wave a true market leader.»