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VANCOUVER, British Columbia, April 22, 2022 (GLOBE NEWSWIRE) — Simply Better Brands Corp. (“SBBC“or the”Company“) (TSX Venture: SBBC, OTCQB: PKANF) today announces that it has entered into a debt settlement agreement with Heavenly Rx LLC, pursuant to which the Company has agreed to issue an aggregate of 140,351 common shares at a deemed price of $4.20 per share.

The total amount of debt settled by these arrangements is $589,474.20, for principal and interest owed by the Company to Heavenly Rx LLC under a promissory note dated March 3, 2021. The Company has decided to settle this outstanding debt with shares in order to preserve its cash for operational purposes.

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This arrangement is subject to the approval of the TSX Venture Exchange (“To exchangeThe Company will issue these shares, which are subject to a four-month hold period, once stock exchange approval is received.

About Simply Better Brands Corp.

Simply Better Brands Corp. leads an international omnichannel platform with diversified assets in emerging plant-based and holistic wellness consumer product categories. The company’s mission is focused on leading-edge innovation for informed millennials and Gen Zers in the rapidly growing field of plant-based, natural and clean ingredients. The company continues to focus on expanding into high-growth consumer product categories including CBD products, plant-based foods and beverages, and the global pet care and pet care industries. skin. For more information about Simply Better Brands Corp., please visit: https://www.simplybetterbrands.com/investor-relations.

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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.

Contact information

Simply Better Brands Corp.
Brian Meadows
Financial director
+1 (855) 553-7441
[email protected]

Forward-looking information

Certain statements contained in this press 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 management’s plans, expectations and estimates as of the date the information is provided and are subject to certain factors and assumptions, including, among others, that the financial condition and plans development of the Company may change due to unforeseen events, the impact of the COVID-19 pandemic, the regulatory climate in which the Company operates and the Company’s ability to execute its business plans. Specifically, this press release contains forward-looking statements regarding, but not limited to: the settlement of debt owed by the Company to Heavenly Rx LLC through the issuance of common stock and regulatory approval of the issuance of these actions.

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Forward-looking statements and information are subject to a variety of risks and uncertainties and other factors that could cause actual plans, estimates and results to differ materially from those projected in such forward-looking statements and information. Factors that could cause the forward-looking statements and information contained in this press release to change or be inaccurate include, but are not limited to, the risk that one of the assumptions referred to valid or reliable, that events such as those mentioned above occur and cause delays or the cessation of the planned work, that the financial situation and development plans of the company change, as well as other applicable risks and uncertainties to the CBD or broader wellness industries and the Company, and as set forth in the Company’s Annual Information Form available under the Company’s profile at www.sedar.com.

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The above summary of the assumptions and risks associated with the forward-looking statements in this press release has been provided in order to provide shareholders and potential investors with a more complete perspective on the current and future operations of the Company and such information may not be appropriate. for other purposes. 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 undertakes no obligation to publicly update or revise any of the items included. forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities law. ‎

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