Vancouver, British Columbia--(Newsfile Corp. - October 3, 2022) - good natured Products Inc. (TSXV: GDNP) (OTCQX: GDNPF) (the "Company" or "good natured®"), a North American leader in plant-based products, today announced that it has closed the purchase of the land and buildings located at the Company's Ayr, Ontario manufacturing location for cash consideration of $9.4 million (the "Ayr Purchase"). The Ayr Purchase was funded by a $6.5 million non-revolving loan facility from HSBC Bank Canada ("HSBC") with a 5-year term and $2.9 million from the available $3.9 million second tranche of the credit facility with Business Development Bank of Canada ("BDC") that was previously announced on August 24, 2022.
Further details associated with the Ayr Purchase can be found in the Company's press release dated September 7, 2022.
The good natured® corporate profile can be found at: investor.goodnaturedproducts.com and at on SEDAR (sedar.com) under the Company's issuer profile.
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/139269
