Boosh Plant-Based Brands upsizes CSE IPO to $2.5M

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By CPE News

CPE News (4/10/2021) – Boosh Plant-Based Brands Inc. has filed an amendment to its preliminary prospectus for its proposed initial public offering.

Boosh Plant-Based Brands will now offer 5,000,000 units at $0.50 per unit for gross proceeds of $2,500,000. The company has previously filed to issue 4 million units at $0.50 per unit for gross proceeds of $2 million.

Boosh Plant-Based Brands has applied to the Canadian Securities Exchange (CSE) to conditionally approve for the listing of the shares forming part of the offered units.

The offering is being conducted by Haywood Securities Inc. on a commercially reasonable efforts basis. S. Paul Simpson Law Corporation and DuMoulin Black LLP are acting as legal counsel to Boosh and the underwriter respectively.

Boosh Plant-Based Brands, through its wholly owned subsidiary Boosh Food Inc., is involved in the production, distribution and sale of plant-based frozen meals to grocery outlets in Canada. Boosh currently has six product offerings, consisting of four single serving bowl-based entrees and two double serving entrees.

Upon closing of the maximum offering, Boosh will have 14,015,500 shares outstanding on non-diluted basis or approximately 34 million shares on fully diluted basis.

Connie Marples, founder of Boosh Food Inc., and Lance Marples, are each controlling 2,008,562 shares presenting 22.28% of pre-IPO outstanding shares.

photo credit: Boosh Plant-Based Brands