Investment group

2022-06-10 | CSE: GTE | Press release

Eat Well Group’s portfolio companies generated combined revenues of CA$57,936,019 in 2021

Eat Well Investment Group Inc., (the “Company” Where “Eat Well Group&CloseCurlyDoubleQuote 😉 (CN:EWG) (US:EWGFF) (FRA:6BC0)a listed investment company,is pleased to announce its fourth quarter and full year 2021 financial results.

Eat Well Investment Group Highlights 2021

  • Acquisition of all outstanding shares of Belle Pulses Ltd. (“Beautiful impulses”) and Sapientia Technology, LLC (“wisdom”) and a 51% majority stake in Pata Foods (dba “Amara Organic Foods), laying the foundation for Eat Well Group’s plant-based foods investment platform
  • Eat Well Group’s total assets at the company’s fiscal year-end, including its portfolio companies, increased 1,082% from $5,043,430 as of November 30, 2020 to $59,627,414 as of November 30, 2021
  • Raised $33,500,000 of debt with a leading Canadian institution and completed two subsequent equity financings of $5,100,000 and $5,018,000
  • Strengthening the company’s Board of Directors and expanding the company’s management team with additional expertise in plant-based foods investing, consumer packaged goods investing and strong governance, bringing over 150 years of collective experience
  • Building an exceptional advisory board with recognized leaders from around the world, with significant experience in consumer products and experience in plant-based food innovation, technology and commercialization

Portfolio Company Highlights

  • As shown in the unaudited financial statements of Belle Pulses, Sapientia Technology and Amara Organic Foods for the 12 months ended December 31st2021, portfolio companies Eat Well & CloseCurlyQuote; generated combined revenues of CA$57,936,019 in 2021
  • On a combined basis, Belle Pulses, Sapientia and Amara generated a positive net profit of $1,478,420 in the face of difficult geopolitical conditions, an increased inflationary environment, unfavorable weather conditions, multiple waves of COVID-19 and a crisis of the global supply chain
  • Belle Pulses expects improved margin performance in 2022 on the back of normalized supply chains and improved COVID-19 restrictions, as well as strong global demand, intensified by conflict Russia / Ukraine which disrupts the supply of pulses abroad
  • Sapientia launched its first white-label protein twists with Federated CO-OP stores in Western Canada, rolling out to 350 stores starting in December ’21, with talks underway to increase store count by several hundred additional stores. Protein Twists have been recognized as Canadian Grand Prix New Product Finalists
  • For fiscal 2021, Amara delivered 320% revenue gains over 2020, driven by its successful “toddler melts” product launch in North American retail
  • Amara Organic Foods continues to expand its reach to new consumers, ending the year with approximately 6,000 total distribution points across North American retail in highly strategic retail stores including Walmart Canada, Sobeys, HEBs, Loblaws, etc.
  • Reiterates revenue guidance of $90,000,000 to $110,000,000 for its beneficiary companies for 2022, with profitability of combined investments expected to improve throughout the calendar year

Since the closing of Eat Well Group’s three plant investments, the portfolio companies have continued to execute on their respective growth plans. Belle Pulses was able to navigate multiple COVID-19 and supply chain challenges, Sapientia launched several flavors of its first white label products with Federated CO-OP, and Amara continued to expand its distribution and its presence at some of the largest brick and mortar and e-commerce stores in North America, eclipsing 6,000 total distribution points.

Outlook

“We have laid a solid foundation within the Eat Well Group investment platform, and we are very excited about the trajectory of our portfolio,” commented Marc Aneed, Director, President and CEO of the company. “The global plant-based food market continues to grow rapidly as consumers make healthier decisions for themselves and their families. Our portfolio companies are well positioned to capture global demand for pulses and accelerate the scale of their better-for-you consumer products for years to come,” Aneed continued.

The importance of high quality, transparent and sustainably produced agricultural products and pulses has become critical globally. Eat Well Group’s investments are well positioned to take their core propositions to the next level and continue to fuel plant-based consumer needs around the world. Portfolio investments will continue to drive capacity, innovation, scale, distribution and fiscal discipline.

The company’s previously announced interest in pursuing a listing on the US public markets, including a potential listing on the NASDAQ or NYSE, continues to grow as opportunities are explored with Roth Capital.

For more, join the Eat Well Group’s mailing list for important updates.

Forward-looking statements

This press release contains forward-looking statements and information (collectively, “forward-looking statements”) that relate to future events or the future business, operations, performance and financial conditions of Eat Well Group, including with respect to relates to the Company’s portfolio investments, the strategic and business plans of the Company’s portfolio companies, the expected growth of the plant-based foods market and the expected growth of the Company’s sales. Forward-looking statements normally contain words such as “will”, “intend”, “anticipate”, “could”, “should”, “may”, “could”, “expect”, “estimate “plans”, “plans”, “potential”, “projects”, “assumes”, “considers”, “believes”, “shall”, and similar terms. All statements other than statements of historical fact, included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause cause actual results to differ materially from the Company’s expectations include actual results of business operations; marketing activities; adverse economic, market or general business conditions; changes in regulatory comments; and other risks detailed from time to time in the Company’s filings with securities regulatory authorities.

Readers are cautioned that the assumptions used in preparing any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those anticipated due to numerous known and unknown risks, uncertainties and other factors, many of which are beyond the Company’s control. Readers are cautioned not to place undue reliance on forward-looking information. Such information, although considered reasonable by management at the time it was prepared, may prove to be incorrect and actual results may differ materially from those anticipated. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement. The forward-looking statements contained in this press release are made as of the date of this press release and the Company will publicly update or revise any of the forward-looking statements included as expressly required by applicable law.

ABOUT THE EAT WELL GROUP

Eat Well Group is a publicly traded investment firm focusing primarily on high growth companies in the agribusiness, food tech, plant and ESG (environment, social and governance) sectors. Eat Well Group’s management team has extensive experience in sourcing, financing and building successful businesses across a wide range of industries and maintains a current investment mandate on the food industry. health and well-being. The team has funded and invested in early-stage venture capital firms for over 25 years, giving them unprecedented access to deal flow and building a portfolio of opportunistic investments designed to generate returns risk-adjusted superiors.

The Canadian Securities Exchange has neither approved nor disapproved of the information contained in this press release and accepts no responsibility for the adequacy or accuracy of this press release.