March 22, 2024 — (Vancouver, BC) good natured Products Inc. (the “Company” or “good natured®”) (TSX-V: GDNP) (OTCQB: GDNPF), a North American leader in plant-based products, announces that, further to its press release dated February 14, 2024, it has closed the first tranche (“First Tranche”) of a non-brokered private placement financing (the “Offering”), by issuing 15,639,998 units (each a “Unit”) at $0.06 per Unit for gross proceeds of $938,399.88.
Each Unit consisted of one common share in the capital of the Company (a “Unit Share”) and one common share purchase warrant (a “Warrant”) of the Company. Each Warrant entitles the holder thereof to acquire one common share (a “Warrant Share”) at an exercise price per Warrant Share of $0.08 (the “Warrant Exercise Price”) for a period of thirty months from the closing of the First Tranche.
In connection with the First Tranche closing of the Offering, the Company paid aggregate finder’s fees of $8,671.99 and issued an aggregate of 144,534 compensation warrants (each, a "Compensation Warrant"), pursuant to a finder's fee agreement entered between the Company and a finder. Each Compensation Warrant entitles the holder thereof to purchase one Warrant Share at a price of $0.06 per Warrant Share for a period of thirty months from the date of issuance.
The net proceeds of the Offering are expected to be used by the Company to fund working capital and one-time expenses associated with previously announced cost reduction activities (see press release dated February 14, 2024 and February 1, 2024).
All securities issued pursuant to the above referenced Offering will be subject to a statutory four-month hold period. The Offering is subject to a number of conditions, including without limitation, approval of the TSX Venture Exchange.
Insiders of the Company prior to closing the First Tranche, subscribed for a total of 5,170,000 Units for total gross proceeds of $310,200.00 under the Offering. Participation by insiders constitutes a “related party transaction” as defined under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company is relying on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(1)(a) of MI 61-101, as neither the fair market value of the Offered Shares issued to such related parties, nor the consideration paid by such related parties exceeded 25% of the Company’s market capitalization. The Company did not file a material change report in respect of the related party transaction 21 days prior to the closing of the Offering as the details of the participation of insiders of the Company had not been confirmed at that time. Further details will be provided in a material change report to be filed by the Company subsequent to the dissemination of this press release.
The Company intends to issue additional Units in subsequent tranches as part of the Offering, up to the maximum amount announced in the February 14, 2024 press release. The TSX Venture Exchange has granted a 30-day extension to the Company to close additional tranches.
The Units have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“) or any state securities laws and may not be offered or sold in the United States or to, for the account or benefit of, “U.S. persons” (as such term is defined in Regulation S under the U.S. Securities Act) absent registration under the U.S. Securities Act or and applicable state securities laws or pursuant to an applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Close of Mortgage Refinancing for Brampton, Ontario Facility
In addition, the Company announces that on February 27, 2024, it closed the mortgage refinancing for its Brampton, Ontario facility. Principal and interest will be paid monthly at a fixed rate of 5.75%. All other terms and conditions announced in the press release dated February 20, 2024 remain unchanged.
The good natured® corporate profile can be found at: goodnaturedproducts.com/pages/investor
About good natured Products Inc.
good natured® is passionately pursuing its goal of becoming North America's leading earth-friendly product company by offering the broadest assortment of plant-based products made from rapidly renewable resources instead of fossil fuels. The Company is focused on making it easy and affordable for business owners and consumers to shift away from petroleum to better everyday products® that use more renewable materials, less fossil fuel, and no chemicals of concern.
good natured® offers over 400 products and services through wholesale, direct to business, and retail channels. From plant-based home organization products to certified compostable food containers, bio-based industrial supplies and medical packaging, the Company is focused on making plant-based products more readily accessible to people as a means to create meaningful environmental and social impact.
For more information: goodnaturedproducts.com
On behalf of the Company:
Paul Antoniadis – Executive Chair & CEO
Contact: 1-604-566-8466
Investor Contact:
Spencer Churchill
Investor Relations
1-877-286-0617 ext. 113
invest@goodnaturedproducts.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibilities for the adequacy or accuracy of this release.
Cautionary Statement Regarding Forward-Looking Information
This press release contains “forward-looking statements” within the meaning of applicable securities laws. Forward-looking statements can be identified by words such as: ”anticipate,” “intend,” “plan,” "budget," “believe,” “project,” “estimate,” “expect,” "scheduled," "forecast," “strategy,” “future,” “likely,” “may,” "to be," "could,", "would," “should,” “will” and similar references to future periods or the negative or comparable terminology, as well as terms usually used in the future and the conditional.
By their nature, forward-looking statements involve known and unknown risks, uncertainties, changes in circumstances and other factors that are difficult to predict and many of which are outside of the Company's control which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
Forward-looking information contained in this news release is based on our current estimates, expectations and projections regarding, among other things, future plans and strategies, the intention to complete the Offering and the expected expenditure of the proceeds of the Offering, projections, future market and operating conditions, supply conditions, end customer demand conditions, anticipated events and trends, general market conditions, the economy, financial conditions, sales volume and pricing, expenses and costs, and other future conditions which we believe are reasonable as of the current date. Important factors that could cause actual results and financial conditions to differ materially from those indicated in the forward-looking statements include, but are not limited to: future capital needs and uncertainty of additional financing, risks relating to general economic, market and business conditions and unforeseen delays in the realization of the Company’s plans, risks related to the loss of key manufacturing equipment, capability or facilities, the performance of plant-based materials and the ability of the Company’s products and packaging to meet significant technical requirements, changes in raw material supply and costs, labour availability and labour costs, fluctuations in operating results, and other related risks as more fully set out in the Annual Information Form of the Company and other documents disclosed under the Company’s filings at www.sedar.com. The reader should not place undue importance on forward-looking information and should not rely upon this information as of any other date. Important factors that could cause actual results and financial conditions to differ materially from those indicated in the forward-looking statements include, among others:
The Company considers its assumptions to be reasonable based on currently available information, but cautions the reader that its assumptions regarding future events, many of which are beyond the control of the Company, may ultimately prove to be incorrect since they are subject to risks and uncertainties that affect the Company and its businesses. When relying on the Company’s forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. The Company has assumed that the material factors referred to above will not cause such forward-looking statements and information to differ materially from actual results or events. However, there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.
Other than as required under securities laws, the Company does not undertake to update this information at any particular time.
Forward-looking statements contained in this news release are based on the Company’s current estimates, expectations and projections regarding, among other things, sales volume and pricing which it believes are reasonable as of the current date. The reader should not place undue importance on forward-looking statements and should not rely upon these statements as of any other date. All forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.
]]>With a focus on innovation and sustainability, key topics in 2024 highlight the evolving landscape of packaging practices in response to consumer demand and regulatory changes. These trends are also part of the Company’s continued efforts to provide simplified, helpful guidelines for businesses to navigate key considerations when selecting the best sustainable packaging solution for their food products.
Top 2024 Agri-Food Packaging Trends:
Many innovative growers are going beyond switching to eco-friendly packaging approaching their businesses with a more holistic sustainability lens – and telling their customers about it. Whether it’s increasing yield through controlled agriculture, collecting rainwater for operations, harnessing solar power, or reducing chemical inputs to crops, consumers want to see the types of creative solutions that Indoor Ag-Con is bringing to big problems.
“We’re excited to be on the floor at Indoor AgCon again this year to meet live with vertical farmers and tech growers who have in their DNA to think very differently about the environment and sustainable business practices,” said Paul Antoniadis, CEO of good natured®. “We look forward to helping them navigate their sustainable packaging options as part of their overall value proposition and always advise that you don’t need to wait for things to be perfect to make a positive impact. Each of the steps along the way can have a meaningful positive environmental impact.”
About good natured Products Inc.
good natured® is passionately pursuing its goal of becoming North America's leading earth-friendly product company by offering the broadest assortment of plant-based products made from rapidly renewable resources instead of fossil fuels. The Company is focused on making it easy and affordable for business owners and consumers to shift away from petroleum to better everyday products® that use more renewable materials, less fossil fuel, and no chemicals of concern.
good natured® offers over 400 products and services through wholesale, direct to business, and retail channels. From plant-based home organization products to certified compostable food containers, bio-based industrial supplies and medical packaging, the Company is focused on making plant-based products more readily accessible to people as a means to create meaningful environmental and social impact.
For more information: goodnaturedproducts.com
On behalf of the Company:
Paul Antoniadis – Executive Chair & CEO
Contact: 1-604-566-8466
Investor Contact:
Spencer Churchill
Investor Relations
1-877-286-0617 ext. 113
invest@goodnaturedproducts.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibilities for the adequacy or accuracy of this release.
]]>
Under the terms of the agreement, the BDC mortgage will be refinanced with a $12.9 million 3-year fixed rate mortgage, featuring a 25-year amortization period. Principal and interest will be paid monthly at a rate within a range of 5.8% - 6.2% per annum. The rate will be fixed at closing. The Company anticipates receiving net proceeds of approximately $2.1 million following repayment of the BDC mortgage and the remaining vendor take back loan associated with the Shepherd Thermoforming & Packaging Inc. acquisition. The close of the transaction is expected to occur on or around February 26, 2024.
"This refinancing reduces our interest rate payable on this facility and will result in annual cash flow savings of approximately $300,000 without any material increase to our net debt,” stated Paul Antoniadis, CEO of good natured®. “This action is consistent with our stated objective to restructure and renegotiate our debt obligations in order to reduce the burden of cash interest payments.”
The good natured® corporate profile can be found at: goodnaturedproducts.com/pages/investor
About good natured Products Inc.
good natured® is passionately pursuing its goal of becoming North America's leading earth-friendly product company by offering the broadest assortment of plant-based products made from rapidly renewable resources instead of fossil fuels. The Company is focused on making it easy and affordable for business owners and consumers to shift away from petroleum to better everyday products® that use more renewable materials, less fossil fuel, and no chemicals of concern.
good natured® offers over 400 products and services through wholesale, direct to business, and retail channels. From plant-based home organization products to certified compostable food containers, bio-based industrial supplies and medical packaging, the Company is focused on making plant-based products more readily accessible to people as a means to create meaningful environmental and social impact.
For more information: goodnaturedproducts.com
On behalf of the Company:
Paul Antoniadis – Executive Chair & CEO
Contact: 1-604-566-8466
Investor Contact:
Spencer Churchill
Investor Relations
1-877-286-0617 ext. 113
invest@goodnaturedproducts.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibilities for the adequacy or accuracy of this release.
Cautionary Statement Regarding Forward-Looking Information
This news release contains forward-looking information within the meaning of securities law. By their nature, forward-looking statements involve known and unknown risks, uncertainties, changes in circumstances and other factors that are difficult to predict and many of which are outside of the Company's control which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
Forward-looking information contained in this news release is based on our current estimates, expectations and projections regarding, among other things, future plans and strategies, the expected cash flow savings from the refinancing, projections, future market and operating conditions, supply conditions, end customer demand conditions, anticipated events and trends, general market conditions, the economy, financial conditions, sales volume and pricing, expenses and costs, and other future conditions which we believe are reasonable as of the current date. Important factors that could cause actual results and financial conditions to differ materially from those indicated in the forward-looking statements include, but are not limited to: future capital needs and uncertainty of additional financing, risks relating to general economic, market and business conditions and unforeseen delays in the realization of the Company’s plans, risks related to the loss of key manufacturing equipment, capability or facilities, the performance of plant-based materials and the ability of the Company’s products and packaging to meet significant technical requirements, changes in raw material supply and costs, labour availability and labour costs, fluctuations in operating results, and other related risks as more fully set out in the Annual Information Form of the Company and other documents disclosed under the Company’s filings at www.sedar.com. The reader should not place undue importance on forward-looking information and should not rely upon this information as of any other date.
If relying on the Company’s forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. The Company has assumed that the material factors referred to herein will not cause such forward-looking statements and information to differ materially from actual results or events. However, there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.
Other than as required under securities laws, we do not undertake to update this information at any particular time.
All forward-looking information contained in this news release is expressly qualified in its entirety by this cautionary statement.]]>Each Unit will consist of one common share in the capital of the Company (a “Unit Share”) and one common share purchase warrant (a “Warrant”) of the Company. Each Warrant will entitle the holder thereof to acquire one common share (a “Warrant Share”) at an exercise price per Warrant Share of $0.08 (the “Warrant Exercise Price”) for a period of 30 months from the closing of the Offering.
The Company advises that the Offering will be open to existing shareholders that qualify as "accredited investors" or pursuant to the other available prospectus exemptions under National Instrument 45-106 Prospectus Exemptions in all Provinces of Canada, except Quebec. A minimum subscription amount of $5,000 is required for participation. Please contact the Company by email at invest@goodnaturedproducts.com to discuss participating in the Offering and the exemptions available for you under existing securities law.
In connection with the Offering, the Company may pay certain finders a fee comprised of cash, finder's warrants, or both, based on the proceeds raised from the sale of securities to purchasers introduced to the Company by such finders.
The net proceeds of the Offering are expected to be used by the Company to fund working capital and one-time expenses associated with previously announced cost reduction activities (see press release dated February 14, 2024 and February 1, 2024).
All securities to be issued pursuant to the above referenced Offering will be subject to a statutory four-month hold period. The Offering is subject to a number of conditions, including without limitation, approval of the TSX Venture Exchange.
The Units have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“) or any state securities laws and may not be offered or sold in the United States or to, for the account or benefit of, “U.S. persons” (as such term is defined in Regulation S under the U.S. Securities Act) absent registration under the U.S. Securities Act or and applicable state securities laws or pursuant to an applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
The good natured® corporate profile can be found at: goodnaturedproducts.com/pages/investor
About good natured Products Inc.
good natured® is passionately pursuing its goal of becoming North America’s leading earth-friendly product company by offering the broadest assortment of plant-based products made from rapidly renewable resources instead of fossil fuels. The Company is focused on making it easy and affordable for business owners and consumers to shift away from petroleum to better everyday products® that use more renewable materials, less fossil fuel, and no chemicals of concern.
good natured® offers over 400 products and services through wholesale, direct to business, and retail channels. From plant-based home organization products to certified compostable food containers, bio-based industrial supplies and medical packaging, the Company is focused on making plant-based products more readily accessible to people to create meaningful environmental and social impact.
For more information: goodnaturedproducts.com
On behalf of the Company:
Paul Antoniadis – Executive Chair & CEO
Contact: 1-604-566-8466
Investor Contact:
Spencer Churchill
Investor Relations
1-877-286-0617 ext. 113
invest@goodnaturedproducts.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibilities for the adequacy or accuracy of this release.
Cautionary Statement Regarding Forward-Looking Information
This press release contains “forward-looking statements” within the meaning of applicable securities laws. Forward-looking statements can be identified by words such as: ”anticipate,” “intend,” “plan,” "budget," “believe,” “project,” “estimate,” “expect,” "scheduled," "forecast," “strategy,” “future,” “likely,” “may,” "to be," "could,", "would," “should,” “will” and similar references to future periods or the negative or comparable terminology, as well as terms usually used in the future and the conditional.
By their nature, forward-looking statements involve known and unknown risks, uncertainties, changes in circumstances and other factors that are difficult to predict and many of which are outside of the Company's control which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
Forward-looking information contained in this news release is based on our current estimates, expectations and projections regarding, among other things, future plans and strategies, the intention to complete the Offering and the expected expenditure of the proceeds of the Offering, projections, future market and operating conditions, supply conditions, end customer demand conditions, anticipated events and trends, general market conditions, the economy, financial conditions, sales volume and pricing, expenses and costs, and other future conditions which we believe are reasonable as of the current date. Important factors that could cause actual results and financial conditions to differ materially from those indicated in the forward-looking statements include, but are not limited to: future capital needs and uncertainty of additional financing, risks relating to general economic, market and business conditions and unforeseen delays in the realization of the Company’s plans, risks related to the loss of key manufacturing equipment, capability or facilities, the performance of plant-based materials and the ability of the Company’s products and packaging to meet significant technical requirements, changes in raw material supply and costs, labour availability and labour costs, fluctuations in operating results, and other related risks as more fully set out in the Annual Information Form of the Company and other documents disclosed under the Company’s filings at www.sedar.com. The reader should not place undue importance on forward-looking information and should not rely upon this information as of any other date. Important factors that could cause actual results and financial conditions to differ materially from those indicated in the forward-looking statements include, among others:
The Company considers its assumptions to be reasonable based on currently available information, but cautions the reader that its assumptions regarding future events, many of which are beyond the control of the Company, may ultimately prove to be incorrect since they are subject to risks and uncertainties that affect the Company and its businesses. When relying on the Company’s forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. The Company has assumed that the material factors referred to above will not cause such forward-looking statements and information to differ materially from actual results or events. However, there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.
Other than as required under securities laws, the Company does not undertake to update this information at any particular time.
Forward-looking statements contained in this news release are based on the Company’s current estimates, expectations and projections regarding, among other things, sales volume and pricing which it believes are reasonable as of the current date. The reader should not place undue importance on forward-looking statements and should not rely upon these statements as of any other date. All forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.
]]>The Company has completed corporate cost reductions in a variety of functional areas, including wages and selling, general and administrative expenses, which are expected to result in annualized savings of approximately $1.8 million. When combined with the previously announced Industrial cost reductions, annualized savings in aggregate are expected to total approximately $3 million. The Company has taken these actions to better manage its cost structure against macroeconomic conditions that remain challenging and have impacted demand in the Industrial business sector and led to some volatility in order-flow and timing of new customer onboarding. The Company estimates it will incur approximately $450,000 in one-time expenses associated with these reductions.
“We have carefully reviewed each functional capability to ensure we have the right resources in the right places to effectively serve our customers,” stated Paul Antoniadis, CEO of good natured®. “This capability review will better position the Company to manage its resources and may highlight additional areas for efficiency improvements.”
About good natured Products Inc.
good natured® is passionately pursuing its goal of becoming North America’s leading earth-friendly product company by offering the broadest assortment of plant-based products made from rapidly renewable resources instead of fossil fuels. The Company is focused on making it easy and affordable for business owners and consumers to shift away from petroleum to better everyday products® that use more renewable materials, less fossil fuel, and no chemicals of concern.
good natured® offers over 400 products and services through wholesale, direct to business, and retail channels. From plant-based home organization products to certified compostable food containers, bio-based industrial supplies and medical packaging, the Company is focused on making plant-based products more readily accessible to people to create meaningful environmental and social impact.
For more information: goodnaturedproducts.com
On behalf of the Company:
Paul Antoniadis – Executive Chair & CEO
Contact: 1-604-566-8466
Investor Contact:
Spencer Churchill
Investor Relations
1-877-286-0617 ext. 113
invest@goodnaturedproducts.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibilities for the adequacy or accuracy of this release.
Cautionary Statement Regarding Forward-Looking Information
This news release contains certain “forward-looking information” and “forward-looking statements” (collectively, “forward looking information”) that are based on expectations, estimates and projections as at the date of this news release. The statements and information in this release regarding expectations for future plans and objectives of the Company are forward-looking information. Any statements that involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The reader should not place undue importance on forward-looking information and should not rely upon this information as of any other date. Important factors that could cause actual results and financial conditions to differ materially from those indicated in the forward-looking statements include, among others:
When relying on the Company’s forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. For further information concerning these and other risks
and uncertainties, refer to the Company’s filings on SEDAR.com. The Company has assumed that the material factors referred to herein will not cause such forward-looking statements and information to differ materially from actual results or events. However, there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.
Other than as required under securities laws, we do not undertake to update this information at any particular time. Forward-looking information contained in this news release is based on our current estimates, expectations, and projections, which we believe are reasonable as of the current date. The reader should not place undue importance on forward-looking information and should not rely upon this information as of any other date. All forward-looking information contained in this news release is expressly qualified in its entirety by this cautionary statement.
]]>February 1, 2024 — (Vancouver, BC) good natured Products Inc. (the "Company" or "good natured®") (TSX-V: GDNP) (OTCQB: GDNPF), a North American leader in plant-based products, today announced it has commenced a cost reduction process to address declining revenue in the petroleum-based portion of its Industrial business group. This revenue segment originated as part of the Company’s acquisitions of Integrated Packaging Films in 2020 and Ex-Tech Plastics in 2021.
In connection with this process, management made the difficult decision to eliminate a number of positions dedicated to the production and distribution of legacy petroleum-based industrial products. These actions, although always challenging, are expected to result in approximately $1.2 million in annualized payroll reductions.
“I want to recognize the persistent efforts by many members of our team who have battled through incredible macroeconomic challenges the last few years,” said Paul Antoniadis, CEO of good natured®. The Industrial manufacturing capability remains an essential part of our integrated supply chain model that provides our Packaging business group with plant-based rollstock. The announcement today is designed to lower our operating cost structure to meet current Industrial demand levels, improve profitability, and to ensure our core Packaging business group remains highly competitive in the market.”
About good natured Products Inc.
good natured® is passionately pursuing its goal of becoming North America's leading earth-friendly product company by offering the broadest assortment of plant-based products made from rapidly renewable resources instead of fossil fuels. The Company is focused on making it easy and affordable for business owners and consumers to shift away from petroleum to better everyday products® that use more renewable materials, less fossil fuel, and no chemicals of concern.
good natured® offers over 400 products and services through wholesale, direct to business, and retail channels. From plant-based home organization products to certified compostable food containers, bio-based industrial supplies and medical packaging, the Company is focused on making plant-based products more readily accessible to people as a means to create meaningful environmental and social impact.
For more information: goodnaturedproducts.com
On behalf of the Company:
Paul Antoniadis – Executive Chair & CEO
Contact: 1-604-566-8466
Investor Contact:
Spencer Churchill
Investor Relations
1-877-286-0617 ext. 113
invest@goodnaturedproducts.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibilities for the adequacy or accuracy of this release.
Cautionary Statement Regarding Forward-Looking Information
This news release contains certain “forward-looking information” and “forward-looking statements” (collectively, “forward looking information”) that are based on expectations, estimates and projections as at the date of this news release. The statements and information in this release regarding expectations for future plans and objectives of the Company, including the anticipated level of payroll reductions, are forward-looking information. Any statements that involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
When relying on the Company’s forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. For further information concerning these and other risks and uncertainties, refer to the Company’s filings on SEDAR.com. The Company has assumed that the material factors referred to herein will not cause such forward-looking statements and information to differ materially from actual results or events. However, there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.
Other than as required under securities laws, we do not undertake to update this information at any particular time. Forward-looking information contained in this news release is based on our current estimates, expectations, and projections, which we believe are reasonable as of the current date. The reader should not place undue importance on forward-looking information and should not rely upon this information as of any other date. All forward-looking information contained in this news release is expressly qualified in its entirety by this cautionary statement.
]]>January 9, 2024 — (Vancouver, BC) good natured Products Inc. (the “Company” or “good natured®”) (TSX-V: GDNP) (OTCQB: GDNPF), a North American leader in plant-based products, today launched its first-ever “Sustainability Guide Book”. This educational resource aims to help businesses navigate key considerations when selecting the best sustainable packaging solution for their food products.
The “Sustainability Guide Book” provides timely and relevant advice to some of the most urgent questions that businesses face when switching to eco-friendly packaging. With complex and constantly changing sustainability regulations, businesses are finding it challenging to understand how regional and national government mandates can impact their packaging decisions.
Other frequently asked questions on topics such as packaging design and fit, materials, consumer preferences, and disposal, can become confusing quickly. Without thoughtful guidance from experts in the industry who have a strong understanding of both the importance of packaging design, and the environmental and social consequences of various packaging materials, businesses may find it difficult to choose the best sustainable option that considers both their operational and environmental needs.
“The key tips from the ‘Sustainability Guide Book’ are meant to help give companies an overview of how to navigate the sustainable packaging landscape,” said Paul Antoniadis, CEO of good natured®. “There is no single solution for what makes packaging sustainable. Our goal is to encourage people to take the first step by making it as easy as possible to understand what sustainable packaging options exist and how a combination of design and eco-friendly materials is often the best solution for their business. We’ve gained a lot of experience over the years, and if we can use that expertise to assist others in navigating all the choices, we’re helping to collectively make the largest positive environmental impact.”
Download the Sustainability Guide Book here.
About good natured Products Inc.
good natured® is passionately pursuing its goal of becoming North America's leading earth-friendly product company by offering the broadest assortment of plant-based products made from rapidly renewable resources instead of fossil fuels. The Company is focused on making it easy and affordable for business owners and consumers to shift away from petroleum to better everyday products® that use more renewable materials, less fossil fuel, and no chemicals of concern.
good natured® offers over 400 products and services through wholesale, direct to business, and retail channels. From plant-based home organization products to certified compostable food containers, bio-based industrial supplies and medical packaging, the Company is focused on making plant-based products more readily accessible to people as a means to create meaningful environmental and social impact.
For more information: goodnaturedproducts.com
On behalf of the Company:
Paul Antoniadis – Executive Chair & CEO
Contact: 1-604-566-8466
Investor Contact:
Spencer Churchill
Investor Relations
1-877-286-0617 ext. 113
invest@goodnaturedproducts.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibilities for the adequacy or accuracy of this release.
]]>Having served as President of Natural Chemistry for over 30 years and CEO of NC Brands from 2015, Mr. Munford is known for building and expanding multiple natural product brands in both Canada and the United States. Using a combined approach of developing and commercializing unique and patentable green chemistry technology, along with a robust acquisition strategy to grow quickly to profitability, NC Brands was ultimately acquired in 2019 by leading North American chemical manufacturer, KIK Custom Products Inc.
Mr. Munford has demonstrated his strong support of the Company’s long term strategic goals as the lead investor in private placements announced in May 2022 and June 2023. Mr. Munford is the Company’s largest individual shareholder, and owns, directly and indirectly, an aggregate of 36,068,890 common shares, representing approximately 13% of the outstanding common shares (calculated on an undiluted basis), and 25,178,570 warrants.
"We’re very pleased to welcome Mark with his strong engineering and operations background, along with M&A experience to our board of directors,” stated Paul Antoniadis, Chair and CEO of good natured®. “What makes Mark particularly unique and valuable on our board is his proven track record turning technical innovations into profitable growth businesses that have gone on to be acquired by industry leaders. His insights and commitment are particularly valuable at this stage in our journey.”
"From my direct experience in the natural chemistry arena, I know that what good natured® has built to date has high value in the marketplace to companies who are looking to expand their sustainable product offering,” shared Mark Munford. “I’ve been invested in the Company’s vision now for several years and appreciate the opportunity to share my experience and guidance as the Company enters its next phase of strategic growth.”
Grant of Equity Incentive Compensation
Pursuant to the Company’s Omnibus Equity Incentive Compensation Plan, an aggregate of Options to purchase 1,177,291 common shares were granted, with an exercise price of $0.07 per common share. The stock options have a term of five years and vest over a 48-month period. The Company also granted an aggregate of 4,104,232 RSUs, vesting in equal portions over a three-year term and 2,861,796 PSUs vesting in equal portions over a two-year term in accordance with certain peer group share price performance criteria for the 2024 calendar year established by the board of directors of the Company.
Each PSU and RSU entitles the holder thereof to receive either one common share, the cash equivalent of one common share or a combination of cash and common shares, as determined by the Company.
The granting of these Options, PSUs and RSUs is subject to TSX Venture Exchange approval.
The good natured® corporate profile can be found at: goodnaturedproducts.com/pages/investor
About good natured Products Inc.
good natured® is passionately pursuing its goal of becoming North America's leading earth-friendly product company by offering the broadest assortment of plant-based products made from rapidly renewable resources instead of fossil fuels. The Company is focused on making it easy and affordable for business owners and consumers to shift away from petroleum to better everyday products® that use more renewable materials, less fossil fuel, and no chemicals of concern.
good natured® offers over 400 products and services through wholesale, direct to business, and retail channels. From plant-based home organization products to certified compostable food containers, bio-based industrial supplies and medical packaging, the Company is focused on making plant-based products more readily accessible to people as a means to create meaningful environmental and social impact.
For more information: goodnaturedproducts.com
On behalf of the Company:
Paul Antoniadis – Executive Chair & CEO
Contact: 1-604-566-8466
Investor Contact:
Spencer Churchill
Investor Relations
1-877-286-0617 ext. 113
invest@goodnaturedproducts.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibilities for the adequacy or accuracy of this release.
]]>November 28, 2023 — (Vancouver, BC) good natured Products Inc. (the “Company” or “good natured®”) (TSX-V: GDNP) (OTCQX: GDNPF), a North American leader in plant-based products, today announced its financial results for the three months ended September 30, 2023 (“Q3 2023”).
Q3 2023 Highlights
Consistent with the Company’s outlook anticipating a slow normalization in its Industrial business group and positive momentum in packaging revenue, Q3 2023 delivered an increase in revenue compared to Q2 2023. The Company’s Packaging business group continued its growth trajectory, although comparisons are less pronounced on a year-over-year basis as the anniversary of the July 2022 FormTex acquisition was lapped and there were some average selling price adjustments amongst the national packaging segment. Revenue declines in the Industrial business group slowed in Q3 2023 compared to Q2 2023, and the Company continues to expect more of its Industrial capacity to be used in its own manufacturing facilities as Packaging business group revenue increases.
“I’m very proud of our team’s unwavering dedication to deliver an increase in revenue this quarter compared to Q2 2023 while also navigating challenging economic conditions,” stated Paul Antoniadis, CEO of good natured®. “Our efforts over the past year to scrutinize and optimize SG&A and other costs are beginning to show results as evidenced by the rebound in EBITDA this quarter. Our outlook remains positive for continued growth in our Packaging business group, with an ongoing pipeline of opportunities taking us into next year.”
Q3 2023 Financial Overview
Revenue for Q3 2023 decreased 26% to $19.4 million as compared to $26.2 million for Q3 2022. The Packaging business group realized year-over-year revenue growth of 4% driven by organic growth, but with comparisons also reflecting the first full quarter of FormTex contribution and some average selling price adjustments, as mentioned above. Industrial business group revenue declined by 46% compared to Q3 2022 and declined by 9% compared to Q2 2023.
Variable gross margin1 for Q3 2023 increased to 36.6% compared to 34.0% for Q3 2022. The increase in variable gross margin reflects the higher mix of revenue from the Packaging business group and productivity enhancements in the variable cost of products. Gross margin was 26.7% for Q3 2023 compared to 27.2% for Q3 2022.
Selling, general and administrative expenses (“SG&A”) in Q3 2023 decreased by 26% compared to Q3 2022. The decrease in SG&A expenses reflects the Company’s ongoing efforts to reduce costs through headcount reductions over the past 12 months, renegotiating terms across the Company’s service providers and suppliers, and through process improvements designed to reduce costs and/or improve productivity. Q3 2023 SG&A excluding acquisition activity and one-time charges, declined 21% on a year-over-year basis. On an annualized basis, Q3 2023 SG&A would total $13.6 million as compared to the $17.9 million in the 2022 fiscal year, representing $4.2 million in run-rate cost savings.
The Company’s Adjusted EBITDA1 declined 11% on a year-over-year basis, but increased as a percentage of revenue to 3.6% from 3.0% in Q2 2023, reflecting the higher rate of expense reduction compared to revenue decline. Compared to Q2 2023, Adjusted EBITDA1 improved almost fifteen-fold, demonstrating strong operating leverage as improved revenue and gross profit contribution were combined with the Company’s efforts to adjust its cost structures, as outlined above.
The Company incurred a net loss of $3.2 million in Q3 2023 compared to a net loss of $2.1 million in Q3 2022. Excluding changes in non-cash expenses such as share-based compensation, depreciation and amortization, and foreign exchange, an increase in financing costs was the primary reason for the year-over-year increase in net loss.
Cash Flow & Balance Sheet Overview
Cash used by operating activities for YTD 2023 was $1.4 million compared to $0.5 million generated by operating activities for YTD 2022. The Company generated positive cash flow from its operations YTD 2023 excluding financing costs, which increased 55% YTD 2023. The Company generated $3.0 million in net cash from financing activities for YTD 2023 and used $2.3 million in investing activities for YTD 2023.
Cash balance as at September 30, 2023 was $11.1 million, compared to $11.9 million as at December 31, 2022 and $13.2 million as at June 30, 2023. As at September 30, 2023, net working capital was $6.9 million compared to $10.0 million as at December 31, 2022.
The Company remains committed to exploring options that will enhance its ability to execute on strategic growth over the long term. This includes a focus on ways to restructure and renegotiate its debt obligations to reduce leverage and cash interest payments.
As at September 30, 2023, the Company’s total asset to liability ratio was 1.17 compared to 1.22 as at December 31, 2022.
The Company’s Q3 2023 financial statements and Management’s Discussion and Analysis are available on SEDAR at sedar.com and on the Company’s investor website at investor.goodnaturedproducts.com.
Q3 2023 Results Conference Call
The Company will hold a conference call to discuss its financial results for Q2 2023, hosted by Paul Antoniadis, Executive Chair & CEO, and Kerry Biggs, Chief Financial Officer, on November 28, 2023 at 11:00 AM Eastern / 8:00 AM Pacific time.
Date: November 28, 2023
Time: 11:00 AM ET / 8:00 AM PT
Toll-Free: 1-888-886-7786 International: +1-416-764-8658
Conference ID: 22010070
Participants are asked to dial in 10 minutes prior to the start of the call.
A replay of the call will be available approximately two hours after its completion through to December 12, 2023. The replay will be available by dialing 1-877-674-7070 or +1-416-764-8692 and by using the passcode 010070.
The good natured® corporate profile can be found at: investor.goodnaturedproducts.com
About good natured Products Inc.
good natured® is passionately pursuing its goal of becoming North America’s leading earth-friendly product company by offering the broadest assortment of plant-based products made from rapidly renewable resources instead of fossil fuels. The Company is focused on making it easy and affordable for business owners and consumers to shift away from petroleum to better everyday products® that use more renewable materials, less fossil fuel, and no chemicals of concern.
good natured® offers over 400 products and services through wholesale, direct to business, and retail channels. From plant-based home organization products to certified compostable food containers, bio-based industrial supplies and medical packaging, the Company is focused on making plant-based products more readily accessible to people as a means to create meaningful environmental and social impact.
For more information: goodnaturedproducts.com
On behalf of the Company:
Paul Antoniadis – Executive Chair & CEO
Contact: 1-604-566-8466
Investor Contact:
Spencer Churchill
Investor Relations
1-877-286-0617 ext. 113
invest@goodnaturedproducts.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibilities for the adequacy or accuracy of this release.
Non-GAAP Financial Measures
We have included in this press release a discussion of the Company’s variable gross profit, variable gross margin, SG&A excluding acquisition activity and one-time charges, and adjusted EBITDA all non-GAAP measures, for Q1 2023, Q2 2023, H1 2023, Q2 2022 and H1 2022 to provide, what management believes, is a meaningful comparison of the Company’s performance in Q2 2023 and H1 2023. These non-GAAP measures do not have standardized meanings, and therefore may not be comparable to similar measures presented by other issuers. Variable gross profit, variable gross margin, SG&A excluding acquisition activity and one-time charges, and adjusted EBITDA are more fully defined and discussed in the Company’s Q2 2023 Management’s Discussion and Analysis under the heading “non-IFRS financial measures”, which is available on the Company’s SEDAR profile at www.sedar.com and on the Company’s investor website at investor.goodnaturedproducts.com.
Cautionary Statement Regarding Forward-Looking Information
This news release contains forward-looking information within the meaning of securities laws including statements related to Company plans and focuses for 2023, the upcoming results conference call and management’s outlook for 2023.
By their nature, forward-looking statements involve known and unknown risks, uncertainties, changes in circumstances and other factors that are difficult to predict and many of which are outside of the Company’s control which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
Forward-looking information contained in this news release is based on our current estimates, expectations and projections regarding, among other things, future plans and strategies, projections, future market and operating conditions, supply conditions, end customer demand conditions, anticipated events and trends, general market conditions, the economy, financial conditions, sales volume and pricing, expenses and costs, and other future conditions which we believe are reasonable as of the current date. Important factors that could cause actual results and financial conditions to differ materially from those indicated in the forward-looking statements include, but are not limited to: future capital needs and uncertainty of additional financing, risks relating to general economic, market and business conditions and unforeseen delays in the realization of the Company’s plans, risks related to the loss of key manufacturing equipment, capability or facilities, the performance of plant-based materials and the ability of the Company’s products and packaging to meet significant technical requirements, changes in raw material supply and costs, labour availability and labour costs, fluctuations in operating results, and other related risks as more fully set out in the Annual Information Form of the Company and other documents disclosed under the Company’s filings at www.sedar.com. The reader should not place undue importance on forward-looking information and should not rely upon this information as of any other date.
If relying on the Company’s forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. The Company has assumed that the material factors referred to herein will not cause such forward-looking statements and information to differ materially from actual results or events. However, there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.
Other than as required under securities laws, we do not undertake to update this information at any particular time.
All forward-looking information contained in this news release is expressly qualified in its entirety by this cautionary statement.
1. A non-GAAP financing measure. Please refer to the “Non-GAAP Financial Measures” above for an explanation of these measures and reconciliation to the Company’s financial results reported in accordance with GAAP.
November 16, 2023 — (Vancouver, BC) good natured Products Inc. (the “Company” or “good natured®”) (TSX-V: GDNP) (OTCQX: GDNPF), a North American leader in plant-based products, announced today that it will report results for the three months ended September 30, 2023 (“Q3 2023”) on Tuesday, November 28, 2023.
The Company will be holding a conference call shortly thereafter to discuss the results on November 28, 2023 at 11:00 AM Eastern / 8:00 AM Pacific time. Paul Antoniadis, Chair and Chief Executive Officer and Kerry Biggs, Chief Financial Officer, will host the call.
Conference Call Details:
Date: November 28, 2023
Time: 11:00 AM ET / 8:00 AM PT
Toll-Free: 1-888-886-7786 International: +1-416-764-8658
Conference ID: 22010070
Participants are asked to dial in 10 minutes prior to the start of the call.
A replay of the call will be available approximately two hours after its completion through to December 12, 2023. The replay will be available by dialing 1-877-674-7070 in North America or +1-416-764-8692 and by using the passcode 010070.
The good natured® corporate profile can be found at: investor.goodnaturedproducts.com
About good natured Products Inc.
good natured® is passionately pursuing its goal of becoming North America’s leading earth-friendly product company by offering the broadest assortment of plant-based products made from rapidly renewable resources instead of fossil fuels. The Company is focused on making it easy and affordable for business owners and consumers to shift away from petroleum to better everyday products® that use more renewable materials, less fossil fuel, and no chemicals of concern.
good natured® offers over 400 products and services through wholesale, direct to business, and retail channels. From plant-based home organization products to certified compostable food containers, bio-based industrial supplies and medical packaging, the Company is focused on making plant-based products more readily accessible to people as a means to create meaningful environmental and social impact.
For more information: goodnaturedproducts.com
On behalf of the Company:
Paul Antoniadis – Executive Chair & CEO
Contact: 1-604-566-8466
Investor Contact:
Spencer Churchill
Investor Relations
1-877-286-0617 ext. 113
invest@goodnaturedproducts.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibilities for the adequacy or accuracy of this release.
November 8, 2023 — (Vancouver, BC) good natured Products Inc. (the “Company” or “good natured®”) (TSX-V: GDNP) (OTCQX: GDNPF), a North American leader in plant-based products, today announced that the Company received a Clean Technology award as part of the Technology Fast 50 program for the third consecutive year. In addition, good natured® has also been named to the North America Technology Fast 500™, recognizing its revenue growth of 900% between 2019 and 2022.
Now in its 29th year, the Technology Fast 500™ is a ranking of the 500 fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies across North America. Launched last year, the Clean Technology award leadership category as part of the Technology Fast 50 program recognizes Canada’s top clean innovators providing processes, goods, or services that reduce environmental impacts.
Paul Antoniadis, CEO of good natured®, credits the Company’s technical expertise in manufacturing well-designed plant-based packaging, a robust acquisition strategy and commitment to making it easy and affordable for businesses to make the switch away from petroleum-based plastics with the Company’s strong revenue growth between 2019 and 2022. Antoniadis said, “It is an honor to be recognized as part of the Fast 50TM and Fast 500TMaward program for the third year running, and we’re very proud to be part of Canada’s growing clean tech community that’s playing such an important role in creating positive environmental impact. I again would like to thank our amazing customers, team members and partners, whose commitment and dedication have made this all possible.”
“These outstanding companies are amongst the elite of Canada’s clean technology sector, developing and bringing to market innovations that create a more resilient and sustainable future for the environment,” stated Anders McKenzie, partner and national leader for the Technology Fast 50 program. “With ever-increasing business opportunities to reduce our carbon footprint, make energy efficiency gains, and accelerate the deployment of renewable energy sources, these winners distinguish themselves in a highly promising and dynamic space. They represent a cohort of innovators who are contributing to the environment and helping to create a sustainable business and technology landscape in Canada.”
About the Technology Fast 50™ program
The Technology Fast 50 program is Canada’s pre-eminent technology awards program. Celebrating its 26th anniversary, the program recognizes business growth, innovation, and entrepreneurship in four distinct categories: Technology Fast 50 ranking, Enterprise—Industry leaders, Clean Technology, and Companies-to-Watch. The program also recognizes companies within the North American Technology Fast 500 ranking, identifying thriving technology companies in the United States and Canada. The 2023 program sponsors include RBC, Osler, EDC, CCI, TMX, Clarity, and Lafond. For further information, visit www.fast50.ca.
About the 2023 Technology Fast 500TM
Now in its 29th year, the Technology Fast 500 provides a ranking of the fastest- growing technology, media, telecommunications, life sciences, fintech, and energy tech companies — both public and private — in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2019 to 2022.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company’s operating revenues. Companies must have base- year operating revenues of at least US$50,000, and current-year operating revenues of at least US$5 million. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.
About good natured Products Inc.
good natured® is passionately pursuing its goal of becoming North America’s leading earth-friendly product company by offering the broadest assortment of plant-based products made from rapidly renewable resources instead of fossil fuels. The Company is focused on making it easy and affordable for business owners and consumers to shift away from petroleum to better everyday products® that use more renewable materials, less fossil fuel, and no chemicals of concern.
good natured® offers over 400 products and services through wholesale, direct to business, and retail channels. From plant-based home organization products to certified compostable food containers, bio-based industrial supplies and medical packaging, the Company is focused on making plant-based products more readily accessible to people as a means to create meaningful environmental and social impact.
For more information: goodnaturedproducts.com
On behalf of the Company:
Paul Antoniadis – Executive Chair & CEO
Contact: 1-604-566-8466
Investor Contact:
Spencer Churchill
Investor Relations
1-877-286-0617 ext. 113
invest@goodnaturedproducts.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibilities for the adequacy or accuracy of this release.
October 11, 2023 — (Vancouver, BC) good natured Products Inc. (the “Company” or “good natured®”) (TSX-V: GDNP) (OTCQX: GDNPF), a North American leader in plant-based products, today announces that it has changed its auditor from Deloitte LLP (the “Former Auditor”) to Grant Thornton LLP (the “Successor Auditor”) effective October 11, 2023. This decision was taken as part of the Company’s proactive efforts to review operating costs and vendor relationships across all functional areas of the business
“We have enjoyed a long-standing and positive relationship with Deloitte and sincerely appreciated their high level of professionalism and quality of work delivered. We remain committed to our plan to deliver on-target margins and increased profitability, which will continue to fuel our strategic growth plans in the face of the evolving macroeconomic conditions we are navigating,” stated Paul Antoniadis, CEO of good natured®.
At the request of the Company, the Former Auditor resigned its position effective October 11, 2023. This resignation was both considered and approved by the audit committee and the board of directors of the Company.
There were no reservations or modifications in the Former Auditor’s latest audit report. There are no “reportable events” including disagreements, consultations, or unresolved issues, as defined in National Instrument 51-102 – Continuous Disclosure Obligations (“NI 51-102”) (Part 4.11) between the Company and the Former Auditor.
In accordance with NI 51-102, the notice of change of auditor, together with the required letters from the Former Auditor and the Successor Auditor, have been reviewed by the audit committee and board of directors of the Company and filed on SEDAR.
The good natured® corporate profile can be found at: investor.goodnaturedproducts.com
About good natured Products Inc.
good natured® is passionately pursuing its goal of becoming North America’s leading earth-friendly product company by offering the broadest assortment of plant-based products made from rapidly renewable resources instead of fossil fuels. The Company is focused on making it easy and affordable for business owners and consumers to shift away from petroleum to better everyday products® that use more renewable materials, less fossil fuel, and no chemicals of concern.
good natured® offers over 400 products and services through wholesale, direct to business, and retail channels. From plant-based home organization products to certified compostable food containers, bio-based industrial supplies and medical packaging, the Company is focused on making plant-based products more readily accessible to people as a means to create meaningful environmental and social impact.
For more information: goodnaturedproducts.com
On behalf of the Company:
Paul Antoniadis – Executive Chair & CEO
Contact: 1-604-566-8466
Investor Contact:
Spencer Churchill
Investor Relations
1-877-286-0617 ext. 113
invest@goodnaturedproducts.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibilities for the adequacy or accuracy of this release.
Cautionary Statement Regarding Forward-Looking Information
This news release contains certain “forward-looking information” and “forward-looking statements” (collectively, “forward looking information”) that are based on expectations, estimates and projections as at the date of this news release. Any statements that involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
When relying on the Company’s forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. The Company has assumed that the material factors referred to herein will not cause such forward-looking statements and information to differ materially from actual results or events. However, there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.
Other than as required under securities laws, we do not undertake to update this information at any particular time. Forward-looking information contained in this news release is based on our current estimates, expectations, and projections, which we believe are reasonable as of the current date. The reader should not place undue importance on forward-looking information and should not rely upon this information as of any other date. All forward-looking information contained in this news release is expressly qualified in its entirety by this cautionary statement.