Happy Supplements Signs Letter of Intent to Acquire Plant-Based Dairy Alternative Company – Bettermoo (D) | 2021-10-15 | Press Releases

VANCOUVER, BC / ACCESSWIRE / October 15, 2021 / Happy Supplements Inc. (CSE:HAPPY) (FWB:0I5) (WKN: A2QK6P)(the “Society” Where “Happy“) is pleased to announce that it has entered into a Letter of Intent (“Letter of Intent“), dated October 15, 2021, to acquire all of the outstanding share capital of Bettermoo (d) Holdings Corp. (“Better mood)“).

Driven by the motto “What a cow eats and what a human needs“bettermoo (d) is a Canadian alternative dairy company, located in Vancouver, British Columbia, committed to providing consumers with quality, organic and sustainable plant-based alternative dairy products and to being a leader of the environmentally friendly food revolution.

The mission of bettermoo (d) is to create alternative dairy products that rival the region’s flavor profile with the tastiest dairy products in the world – the Alpine regions of Switzerland, France and Austria. Through research and numerous conversations with farmers in these countries, bettermoo (d) concluded that what cows eat and where they live greatly influences the taste of the dairy products they produce. To mimic the great taste of milk from these regions, bettermoo’s inaugural product “Moodrink” has been formulated to incorporate an undisclosed blend of herbs that essentially mimic what free-range cows eat. bettermoo (d) plans to launch its first ‘Moodrink’ in its original flavor in winter 2021/2022, with additional flavors, such as vanilla, matcha and chai to be launched shortly thereafter. bettermoo (d) further intends to develop a full range of alternative dairy products that encompass the full spectrum of traditional dairy products, including alternatives to butter, yogurt, cheese and crème fraîche. All of bettermoo (d) products will incorporate the company’s proprietary blend of herbs.

The Company anticipates that its Moodrink will be available in select retail stores across Canada and through an e-commerce platform for online shoppers. Moodrink is gluten, lactose and dairy free, and suitable for those who cannot or choose not to consume dairy products.

bettermoo (d) is delighted to be able to join Happy Supplements. I think we can add a lot of value to their operations, and in turn their leadership and ability to access capital will allow bettermoo (d) to grow exponentially faster.“said Nima Bahrami, CEO of bettermoo (d).

There is a rapidly growing consumer base that is opting for plant-based and other alternative dairy products. In 2020, the global dairy alternatives market was valued at nearly USD 20 billion and is expected to grow at a compound annual growth rate of 13.3% over the next seven years, reaching USD 53.97 billion in 2028. This Market dynamics mean a change in eating habits, changes in dietary trends and a growing awareness of the effects of diet and food choices on the environment.

The acquisition of bettermoo (d) will further expand and diversify our presence in the beverage industry and allow us to capitalize on the growth of an environmentally and health conscious consumer base.“said Steve Pear, CEO of Happy.

The dairy alternatives industry is expected to experience significant growth over the next decade and we believe the timing couldn’t be better for our company to acquire Vancouver-based start-up bettermoo (d). “

Transaction conditions

Under the terms of the letter of intent, in consideration for all of the outstanding share capital of bettermoo (d), the Company is expected to issue 9,000,000 common shares, 10,000,000 common share purchase warrants (each , a “Counterparty mandate“) and 700,000 incentive stock options (each, a”Consideration option“) to holders of existing securities of bettermoo (d). Each warrant for consideration may be exercised to acquire one additional common share of the Company at a price of $ 1.40 for a period of twenty-four months, and each option of consideration may be exercised to acquire one additional common share at a price of $ 0.30 for a period of sixty months.

Completion of the acquisition of bettermoo (d) remains subject to a number of conditions, including: satisfactory completion of due diligence; receipt of all required regulatory approvals; and negotiation of final documentation. The acquisition cannot be carried out until these conditions are met.

The Company deals at arm’s length with bettermoo (d) and each of its shareholders. The acquisition of bettermoo (d) is not expected to constitute a fundamental change for the Company, nor result in a change of control of the Company, within the meaning of applicable securities laws and the policies of the Canadian Stock Exchange. The Company may pay finder’s fees or commissions to eligible arm’s length third parties in connection with the acquisition of bettermoo (d).

About Happy Supplements

Happy Supplements Inc. is an innovative beverage company focused on providing high quality beverages both online and through local market retailers. Happy Supplements uses social media to provide educational experiences to its customers while demonstrating its innovative beverage technology.

ON BEHALF OF THE BOARD OF DIRECTORS

Steve pear

Chairman and CEO and Director

For more information, please contact:

[email protected]

Happy Supplements Inc.

Company URL: www.happytea.com

Phone: 1-236-521-0626

The CSE accepts no responsibility for the adequacy or accuracy of this release.

This press release may contain certain “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if they are used in this press release, the words “anticipate”, “believe”, “estimate”, “expect”, “target,“ plan ”,“ anticipate ”,“ may ”,“ establish a timeline ”and similar words or phrases identify forward-looking statements or information. These forward-looking statements or information may relate to the potential acquisition of bettermoo (d) and other factors or information. These statements represent the Company’s current views regarding future events and are necessarily based on a number of assumptions and estimates which, although considered reasonable by the Company, are inherently subject to commercial, economic, competitive risks. important political and social issues, to contingencies and uncertainties. Many factors, known and unknown, could cause any results, performance or achievements to be materially different from the results, performance or achievements which are or may be expressed or implied by these forward-looking statements. The Company does not intend and assumes no obligation, n, to update such forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other event affecting such statements and information other than those required by applicable laws, rules and regulations.

THE SOURCE: Happy Supplements Inc.

See the source version on accesswire.com:

https://www.accesswire.com/668418/Happy-Supplements-Signs-Letter-of-Intent-to-Acquire-Plant-Based-Dairy-Alternative-Company–BettermooD


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