EQS Group-News: Rapid Nutrition PLC / Key word(s): Investment
Rapid Nutrition Attracts second round investment from Swiss Fund
LONDON UK - Rapid Nutrition PLC, (RAP:SW, OTCQB:RPNRF) ("Company"), a natural healthcare company focused on the research, development and production of a range of life science products, today announced it has collectively placed convertible instruments to the value of USD$333,983. Notably a convertible bond of USD300,000 led by Swiss Asset Manager, Alternative Gestion S.A. The placement (Convertible Instrument) consists of units at market price with warrants attached. The number of warrants issued to the Investor will be calculated at 100% of the newly issued Ordinary Shares placed with the Investor (in connection with this Convertible Instrument) with an exercise price equal to USD$0.30 per share. The warrants will vest immediately and will have a twenty-four month life.
The Conversion will increase the current share capital to a total number of voting rights 42,076,096, if fully exercised pursuant to the entry in the commercial register. The proceeds shall be used to fund the Company's growth plans and corporate strategy.
The new shares will be allotted subject only to admission to listing of the new shares. Such listing is expected to take place in due course.
Rapid Nutrition CEO, Simon St. Ledger stated, "We are pleased to attract continued support from Alternative Gestion S.A. which reinforces our corporate strategy by positioning the Company well for continued growth heading into the first quarter of 2021. Further, we believe securing financing without discounting our equity and offering warrants at premium to the market speaks to the positive sentiment building in the institutional investor community, as well as our ongoing commitment to building long-term shareholder value."
Over the past year, Rapid Nutrition has also secured new distribution agreements in France, Italy, Jamaica and Switzerland where the products are going through regulatory approval, as well as bolstering its direct-to-consumer e-commerce and Amazon channels, as more consumers recognize the importance of health, wellness and self-care products. The company aims to continue to grow its global distribution footprint throughout the European markets as well.
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This media information does not constitute an offer to sell, or a solicitation of an offer to buy, any securities. This information does not constitute an offering prospectus within the meaning of article 652a or article 1156 of the Swiss Code of Obligations or a listing prospectus within the meaning of the listing rules of the SIX Swiss Exchange. The media release is in accordance with International Reporting Standard: Rule 12g3-2(b) under the Securities Exchange Act ('Rule 12g3-2(b)') permits non-U.S. companies with securities listed primarily on a Qualified Foreign Exchange to make publicly available to U.S investors in English the same information that is made publicly available in their home countries as an alternative to SEC reporting Exchange Act Rule 12g3-2(b).
End of Media Release