LONDON, UK / ACCESSWIRE / January 7, 2021 / Rapid Nutrition PLC, (SWX:RAP)(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.
About Rapid Nutrition
Dedicated to the development and distribution of premium, science-based health and wellness brands across the globe, Rapid Nutrition shares a wealth of award-winning products with consumers who are passionate about innovations that are “made by nature, refined by science.” Rapid Nutrition’s first-class scientific team matches the experience of its management team to keep both the company and consumers on top of the latest industry trends and developments, while aligning with industry leaders worldwide to deliver effective supplements and solutions. Rapid Nutrition aims to be the supplier of choice globally by offering premium brands with the highest-quality ingredients to deliver maximum results. For more information, please visit http://rnplc.com
Investor Relations Contact
This press release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks, uncertainties and assumptions that could cause Rapid Nutrition PLCs actual results and experience to differ materially from anticipated results and expectations expressed in these forward-looking statements. Rapid Nutrition PLC has in some cases identified forward-looking statements by using words such as “anticipates,” “believes,” “hopes,” “estimates,” “looks,” “expects,” “plans,” “intends,” “goal,” “potential,” “may,” “suggest,” and similar expressions. Rapid PLC undertakes no obligation to release publicly the results of any revisions to any such forward-looking statements that may be made to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events, except as required by applicable law or regulation.
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).
SOURCE: Rapid Nutrition Plc
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