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SIMPLY BETTER BRANDS CORP. PROVIDES CORPORATE UPDATE

SIMPLY BETTER BRANDS CORP. PROVIDES CORPORATE UPDATE
Canada NewsWire
VANCOUVER, BC, Jan. 25, 2023

VANCOUVER, BC, Jan. 25, 2023 /CNW/ – Simply Better Brands Corp. (“SBBC” or the “Company”) (TSXV: SBBC) (OTCQB: PKANF) is pleased to provide a corporat…

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SIMPLY BETTER BRANDS CORP. PROVIDES CORPORATE UPDATE

Canada NewsWire

VANCOUVER, BC, Jan. 25, 2023 /CNW/ - Simply Better Brands Corp. ("SBBC" or the "Company") (TSXV: SBBC) (OTCQB: PKANF) is pleased to provide a corporate update concerning its corporate initiatives.

Branding Earnout Agreement

The Company announces today that it has entered into a Branding Earnout Agreement dated January 25, 2023 ‎‎(the "Agreement") with a group of individual rightsholders each of whom are at arm's length to the Company, to advance "Vibez", a new brand of Keto products in the direct to consumer market in the United States (the "Brand"). Pursuant to the Agreement, the Company has partnered with industry experts to advance the Brand.                                           

The global ketogenic market in 2019 was USD$9.57B, with a planned compound annual growth rate (CAGR) of 5.5% from 2020-2027, per Grandview Research Ketogenic Diet Market Size Industry Report, 2020-2027. SBBC intends to capitalize on this opportunity by launching the Brand in the US market in 2023. Major progress has been made to date as the Brand has achieved sales of USD$1.4 million in the first two months of operation.

Kathy Casey, CEO of SBBC said: "Today, Simply Better Brands operates in three verticals: plant-based wellness, clean ingredient food and beverage, and next generation skincare. Although our PureKana brand is already a Top 10 brand in the category, we continue to see wellness opportunities in consumer need states of focal acuity, recreation, and weight management, hence, the entry of the Vibez brand. Our Q4 2022 launch has exceeded our expectations and we envision Vibez contributing significantly to our continued category and channel growth in 2023".

Under the terms of the Agreement, the Company will make an initial payment of $250,000 in common shares of SBBC ("Common Shares"), at a price per share $0.32. SBBC may also make bi-monthly earnout payments in the amount of $187,000, if the Brand achieves certain sales targets set out in the Agreement (the "Earnout Payments"). Sales in the Agreement related to the milestone payments over 24 months total USD $14.98 million (approximately CAD $20 million). The Earnout Payments are payable in cash or Common Shares, at a price per Common Share equal to the higher of (i) the five day volume weighted average trading price of the Common Shares on the TSX Venture Exchange, or (ii) $0.32. SBBC may issue up to a maximum of $2,250,000 in cash or Common Shares, at the Company's discretion, over the next 2 years pursuant to the Earnout Payments.

SBBC will retain exclusive ownership of all of the goodwill associated with the Brand, its sales revenue, its trademarks and name.

The Agreement and payments contemplated therein remain subject to the review and approval of the TSX Venture Exchange.

Option and RSU Grants

The Company also announces that today it has granted an aggregate of 475,000 stock options ("Option") and 975,000 restricted share units ("RSU") to certain directors, officers and consultants of the Company under the Company's equity incentive plan and stock option plan, respectively. Each Option has an exercise price of $0.27 and is exercisable for a period of five years from the date of grant into one common share of the Company per Option. The Options and RSUs will each will vest over two years from date of grant. Vesting of the Options and RSUs are subject to acceleration in certain events in accordance with policies of the TSX Venture Exchange.

The RSU and Option grants are subject to all necessary regulatory approval. 

About Simply Better Brands Corp.

Simply Better Brands Corp. leads an international omni-channel platform with diversified assets in the emerging plant-based and holistic wellness consumer product categories. The Company's mission is focused on leading innovation for the informed Millennial and Generation Z generations in the rapidly growing plant-based, natural, and clean ingredient space. The Company continues to focus on expansion into high-growth consumer product categories including CBD, plant-based food and beverage, and the global pet care and skin care industries. For more information on Simply Better Brands Corp., please visit: https://www.simplybetterbrands.com/investor-relations.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Information

Certain statements contained in this news release constitute "forward-looking information" and "forward looking statements" as such terms are used in applicable Canadian securities laws. Forward-looking statements and information are based on plans, expectations and estimates of management at the date the information is provided and are subject to certain factors and assumptions, including, among others, that the Company's financial condition and development plans do not change as a result of unforeseen events, the impact of the COVID-19 pandemic, the regulatory climate in which the Company operates, and the Company's ability to execute on its business plans. Specifically, this news release contains forward-looking statements relating to, but not limited to: the launch of the Brand, completion of the initial payment under the Agreement, the Earnout Payments and SBBC's continued ownership of the Brand, statements relating to the successful closing of the Offering and anticipated timing thereof and the intended use of proceeds.

Forward-looking statements and information are subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking statements and information. Factors that could cause the forward-looking statements and information in this news release to change or to be inaccurate include, but are not limited to, the risk that any of the assumptions referred to prove not to be valid or reliable, that occurrences such as those referred to above are realized and result in delays, or cessation in planned work, that the Company's financial condition and development plans change, ability to obtain necessary regulatory approvals for the transaction, as well as the other risks and uncertainties applicable to the CBD or broader wellness industries and to the Company, and as set forth in the Company's annual information form available under the Company's profile at www.sedar.com.

There is no representation by the Company that actual results achieved will be the same in whole or in part as those referenced in the forward-looking statements and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities law.

SOURCE Simply Better Brands Corp

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‘The Scandal Would Be Enormous’: Pfizer Director Worried About Vax-Induced Menstrual Irregularities

‘The Scandal Would Be Enormous’: Pfizer Director Worried About Vax-Induced Menstrual Irregularities

Project Veritas on Thursday released a…

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'The Scandal Would Be Enormous': Pfizer Director Worried About Vax-Induced Menstrual Irregularities

Project Veritas on Thursday released a new segment of undercover footage of Pfizer director Jordon Walker in which the Director of R&D within the company's mRNA operation expressed concern over how the COVID-19 vaccine may be affecting women's reproductive health.

"There is something irregular about the menstrual cycles. So, people will have to investigate that down the line," Walker told an undercover journalist he thought he was on a date with.

"The [COVID] vaccine shouldn’t be interfering with that [menstrual cycles]. So, we don’t really know," he added.

Walker also hopes we don't discover that "somehow this mRNA lingers in the body and like -- because it has to be affecting something hormonal to impact menstrual cycles," adding "I hope we don’t discover something really bad down the line…If something were to happen downstream and it was, like, really bad? I mean, the scale of that scandal would be enormous."

Watch:

 

Tyler Durden Thu, 02/02/2023 - 19:30

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Rebar robotics firm Toggle adds another $3M to its fundraising tally

There’s no denying that the robotics startup world has taken a hit during the ongoing economic downturn. Recent numbers prove what we’ve all suspected…

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There’s no denying that the robotics startup world has taken a hit during the ongoing economic downturn. Recent numbers prove what we’ve all suspected for some time. But two things are true: 1) The lull is temporary; and 2) While robotics isn’t recession-proof, construction might as well be.

This is certainly a theme of late — as other categories of robotics have struggled to raise, those operating in construction appear relatively unimpacted. New York-based Toggle this morning announced that it has added another $3 million to its coffers as part of a “Series A Extension.” The initial $8 million Series A was announced back in 2021. Japanese firm Tokyu Construction is a first-time investor in the startup, whose total raise is currently at $15 million.

Image Credits: Toggle

Toggle CEO Daniel Blank tells TechCrunch:

With a renewed interest in American manufacturing and production capacity and the investments pouring into infrastructure and renewable energy in particular (but also batteries and microchips manufacturing), we have been successful at navigating the difficulties whether due to our category, a slowing economy or the pandemic. In this round, adding strategic investors, we’ve demonstrated that the problem of labor cost, availability and speed is really at the forefront for construction firms and they are going directly to the tech startups rather than through VCs to access solutions.

Toggle makes robots that bend rebar, the steel skeletal reinforcement you find in all manner of heavy construction. The company’s headcount is currently at 40, which the company plans to double over the course of the next year, following an upcoming Series B raise. Those roles will primarily be focused on engineering and operations.

Blank notes that the pandemic has contributed to an increased interest in automating difficult and expensive pieces of the construction process.

Image Credits: Toggle

“The pandemic has had a significant impact on the construction industry, leading to increased costs and complexity. Supply chain disruptions, inflation, and rising labor costs have all played a role,” he explains. “To combat these challenges, there has been a growing interest in the adoption of robotics in construction. This trend is consistent across different segments of the industry, as owners and contractors seek ways to save time and money. Robotics and automation, similar to those used in manufacturing, are seen as a solution. This has also led to an acceleration in the use of prefab and modular construction methods.”

In addition to hiring, the new funds will be used to ramp up its robotic production.

Rebar robotics firm Toggle adds another $3M to its fundraising tally by Brian Heater originally published on TechCrunch

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January Employment Preview

On Friday at 8:30 AM ET, the BLS will release the employment report for January. The consensus is for 185,000 jobs added, and for the unemployment rate to increase to 3.6%.There were 223,000 jobs added in December, and the unemployment rate was at 3.5…

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On Friday at 8:30 AM ET, the BLS will release the employment report for January. The consensus is for 185,000 jobs added, and for the unemployment rate to increase to 3.6%.

There were 223,000 jobs added in December, and the unemployment rate was at 3.5%.

From BofA economists:
"Nonfarm payrolls likely rose by 225k in January, little changed from the December increase. Payrolls were likely boosted by the end of the strike by University of California workers in late December. The strike affected 36k workers according to the BLS and likely largely explained the ~24k drop in state education employment in December. These workers should return to payrolls in January."
From Goldman Sachs:
"We continue to expect a strong employment report, and we left our nonfarm payroll forecast unchanged at +300k (mom sa)."
Click on graph for larger image.

• First, as of December there were 1.24 million more jobs than in February 2020 (the month before the pandemic).

This graph shows the job losses from the start of the employment recession, in percentage terms.  As of August 2022, the total number of jobs had returned.

Annual Benchmark Revision: The benchmark revision for 2021 will be released with the January employment report. The above graph doesn't include the preliminary benchmark revision that showed there were 462 thousand more jobs than originally reported in March 2022.

ADP Report: The ADP employment report showed 106,000 private sector jobs were added in January.  This suggests job gains below consensus expectations. ADP chief economist Nela Richardson noted: "In January, we saw the impact of weather-related disruptions on employment during our reference week. Hiring was stronger during other weeks of the month, in line with the strength we saw late last year."

ISM Surveys: Note that the ISM indexes are diffusion indexes based on the number of firms hiring (not the number of hires).  The ISM® manufacturing employment index decreased in January to 50.6%, down from 50.8% last month.   This would suggest the number of manufacturing jobs was mostly unchanged in January.

The ISM® services employment index for January has not been released yet.

Unemployment Claims: The weekly claims report showed a decrease in the number of initial unemployment claims during the reference week (includes the 12th of the month) from 216,000 in December to 192,000 in January. This would usually suggest fewer layoffs in January than in December. In general, weekly claims were below expectations in January.

•  COVID: As far as the pandemic, the number of weekly cases during the reference week in January was around 332,000, down from 458,000 in December.  

•  Weather: As ADP noted, there was severe weather during the reference week. After the release, I'll check the San Francisco Fed estimate of Weather-Adjusted Change in Total Nonfarm Employment.

Conclusion: This employment report is especially hard to predict.  There is a significant seasonal adjustment for January (there are always a large number of jobs lost in January NSA).  And there are other factors - severe weather, end of a strike - that will likely impact hiring.  My guess is the report will be below consensus.

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