Unbun Foods Raises Approximately $1.9 Million in Common Share Financing Led by Canaccord Genuity
Canadian leader in better-for-you bakery products to increase capacity and infrastructure to meet the rising demand in its industry
TORONTO, May 6, 2020 /CNW/ - Keto Buns Ltd. doing business as Unbun Foods Inc. ("Unbun" or the "Company"), a Toronto-based bakery company and leader in grain free, gluten free, keto friendly products, announces that on March 13, 2020 and May 4, 2020, it raised approximately $1.9 Million in aggregate gross proceeds through a private placement (the "Offering") of units of the Company (the "Units"). Each Unit is comprised of one common share in the capital of the Company and one-half of one common share purchase warrant, and each such warrant entitles the holder thereof to acquire one common share upon payment of the exercise price. The Offering was led by Canaccord Genuity Corp. ("Canaccord"), an independent full-service financial services firm with a global footprint.
Unbun has quickly established itself as a North American leader in creating innovative and delicious better-for-you bakery products. By developing grain-free, gluten-free, keto, paleo, and plant-based bakery products, Unbun has brought consumers back to food products that they had left, and enables them to enjoy their favourite foods once again. Since its founding in 2018, the Company has experienced rapid growth and has distribution in more than 2,500 locations across Canada and the U.S.
"Unbun has experienced explosive demand for its products and incredible growth since launch," says Unbun founder, Gus Klemos. "This investment is a sign that there is a growing appetite in the market for innovative products that meet a range of dietary requirements and preferences to help support a balanced lifestyle. Unbun will continue to develop new products and ramp up production to bring our better-for-you options to even more consumers."
The proceeds of the Offering will allow Unbun to increase production capacity, and support operations, supply chain and manufacturing infrastructure that will ensure the Company meets the increasing demand for its products from restaurant partners, grocery retailers and consumers.
About Unbun Foods Inc.
Unbun is a Toronto based, certified keto, paleo, grain-free & gluten-free food company. Unbun specializes in creating innovative, better-for-you bakery products. Founded in early 2018, the Company has grown to over 2,500 locations, including Loblaws, Metro, Whole Foods, Pizza Pizza, MR.SUB, The Burger's Priest, BurgerIM, Firkin Pubs, Erewhon Market and more. The mission is simple: to give people that follow low-carb, paleo, gluten-free, grain-free and plant-based diets the option to still enjoy their favourite restaurants, chains, fast food and meals at home without compromising taste or quality of dining experience. For more information, visit www.unbunfoods.com and Instagram @unbunfoods.
Forward Looking Information
Certain information in this news release constitutes forward-looking statements under applicable securities law. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "intend", "plan", "will" and similar expressions. Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; marketing costs; loss of markets; future legislative and regulatory developments; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; income tax and regulatory matters; the ability of the Company to implement its business strategies; competition; currency and interest rate fluctuations and other risks.
Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by Unbun's management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. The forward-looking statements contained in this release are made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
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