The G a t suppo ts the Compa y’s o goi g expa sio of its Illi ois ma ufactu i g ope atio s, i cludi g the elocatio of its p oductio to a la ge facility i Boli gb ook, Illi ois a d imp oveme ts to its Dow e s G ove ope atio s, togethe with the associated capital i vestme t a d c eatio of ew jobs i the State. The awa d u de sco es the st e gth of the Compa y’s Illi ois footp i t a d its lo g-te m commitme t to g owi g its ma ufactu i g base a d wo kfo ce i the egio .
The Busi ess Att actio P ime Sites p og am is desig ed to assist compa ies u de taki g la ge-scale capital i vestme t p ojects that commit to sig ifica t job c eatio fo Illi ois eside ts as they expa d ope atio s withi the State. The G a t is o -dilutive a d is disbu sed as eimbu seme t of eligible capital expe ditu es; the Compa y expects to begi eceivi g eimbu seme t u de the G a t i Septembe 2026. No secu ities of the Compa y a e bei g issued i co ectio with the G a t.
“This awa d eflects ou co ti ued i vestme t i Illi ois ma ufactu i g a d jobs as we expa d ou ope atio s,” said Bill Bese hofe , CEO a d co-fou de of The F esh Facto y. “We a e g ateful fo the State of Illi ois’ suppo t th ough the P ime Sites p og am, which helps us accele ate ou g owth, add capacity, a d c eate ew jobs i the commu ities we se ve.”
Sepa ately, the Compa y has e te ed i to a u secu ed, subo di ated, sho t-te m evolvi g c edit facility of up to US$1.0 millio (the “Facility”) with New F o tie Holdi gs, LLC, a e tity co t olled by Natha Lau ell, a di ecto of the Compa y, fo wo ki g capital a d ge e al co po ate pu poses. The Facility is subo di ated i ight of payme t to the Compa y’s se io secu ed c edit facility with Mitsubishi HC Capital Ame ica I c. The Compa y believes the te ms of the Facility a e fai a d comme cially easo able give that it is u secu ed, subo di ated a d sho t-te m i atu e. No secu ities of the Compa y a e bei g issued i co ectio with the Facility.
The Facility co stitutes a ” elated pa ty t a sactio ” withi the mea i g of Multilate al I st ume t 61-101 – P otectio of Mi o ity Secu ity Holde s i Special T a sactio s (“MI 61-101”) as the le de is a e tity co t olled by a di ecto of the Compa y. The Compa y is elyi g o exemptio s f om the fo mal valuatio equi eme t (sectio 5.5(b) of MI 61-101) a d the mi o ity sha eholde app oval equi eme t (sectio 5.7(1)(f) of MI 61-101) applicable to a loa obtai ed o easo able comme cial te ms that a e ot less adva tageous to the Compa y tha if obtai ed f om a a m’s le gth pa ty a d that is ot co ve tible, di ectly o i di ectly, i to equity o voti g secu ities of the Compa y. The Facility was eviewed a d app oved by the Compa y’s boa d of di ecto s, with the i te ested di ecto havi g decla ed his i te est a d abstai ed f om voti g.
The F esh Facto y is a ve tically i teg ated compa y focused o accele ati g the g owth of the f esh, clea -label, pla t-based food a d beve age b a ds of tomo ow. The F esh Facto y ow s o pa t e s with eme gi g b a ds i the pla t-based space to develop, ma ufactu e, a d sell p oducts made f om f esh p oduce a d ecog izable i g edie ts. It ope ates f om its ce t ally located ma ufactu i g facility ea Chicago, se vi g custome s ac oss the U ited States. As a public be efits co po atio , The F esh Facto y is ESG-focused, d ive to make a lighte , g ee e impact o the e vi o me t a d a st o ge , positive impact o local commu ities a d the food system as a whole. Lea mo e about The F esh Facto y at www.thef eshfacto y.co a d fi d The F esh Facto y o social media at I stag am, Twitte , a d Li kedI .
Bill Bese hofe Chief Executive Office a d Co-Fou de 1-877-495-1638
Susa XuMedia a d I vesto Relatio s1-877-495-1638
This ews elease co tai s “fo wa d-looki g stateme ts” o “fo wa d-looki g i fo matio ” (collectively efe ed to he eafte as “fo wa d-looki g stateme ts”) withi the mea i g of applicable Ca adia secu ities legislatio . All stateme ts that add ess activities, eve ts, o developme ts that the Compa y expects o a ticipates will, o may, occu i the futu e, i cludi g, but ot limited to, stateme ts about the G a t, the a ticipated eceipt, amou t a d timi g of p oceeds u de the G a t, the use of such p oceeds, the Compa y’s expa sio of its Illi ois ope atio s a d elated job c eatio , the Facility, the use of p oceeds f om the Facility, the availability of fu ds u de the Facility, the a ticipated be efits of the fi a ci g, a d stateme ts with espect to the futu e busi ess a d ope atio s of the Compa y. I some cases, fo wa d-looki g stateme ts a e p eceded by, followed by, o i clude wo ds such as “may”, “will,” “would”, “could”, “should”, “believes”, “estimates”, “p ojects”, “pote tial”, “expects”, “pla s”, “i te ds”, “p oposes”, “a ticipates”, “ta geted”, “co ti ues”, “fo ecasts”, “desig ed”, “goal”, “a ticipate” o the egative of those wo ds o othe simila o compa able wo ds. Although the ma ageme t of the Compa y believes that the assumptio s made a d the expectatio s ep ese ted by such stateme ts a e easo able, the e ca be o assu a ce that a fo wa d-looki g stateme t he ei will p ove to be accu ate. Fo wa d-looki g stateme ts i volve k ow a d u k ow isks, u ce tai ties, a d othe facto s which may cause the actual esults, pe fo ma ce, o achieveme ts of the Compa y to be mate ially diffe e t f om a y futu e esults, pe fo ma ce, o achieveme ts exp essed o implied by such fo wa d-looki g stateme ts. Although ma ageme t of the Compa y has attempted to ide tify impo ta t facto s that could cause actual esults to diffe mate ially f om those co tai ed i fo wa d-looki g i fo matio , the e may be othe facto s that cause esults ot to be as a ticipated, estimated, o i te ded. Risks a d u ce tai ties applicable to the Compa y, as well as t e ds ide tified by the Compa y affecti g its i dust y, ca be fou d i the fi al lo g-fo m p ospectus of the Compa y dated Novembe 10, 2021, a d the Compa y’s co ti uous disclosu e eco d available o SEDAR+ at www.seda plus.ca. Such cautio a y stateme ts qualify all fo wa d-looki g stateme ts made i this ews elease. The Compa y u de takes o obligatio to update o evise a y fo wa d-looki g stateme ts, whethe as a esult of ew i fo matio , futu e eve ts, o othe wise, except as equi ed by applicable law.
Neithe the TSXV o its Regulatio Se vices P ovide (as that te m is defi ed i the policies of the TSXV) accepts espo sibility fo the adequacy o accu acy of this ews elease.
