Eat Well Investment Group Inc. Invests USD $11.6 Million in Amara Organic Foods

Eat Well Investment Group Inc. (CSE:EWG) (US:EWGFF) (FRA:6BC0) (“Eat Well”) completed an initial investment in PataFoods, Inc. dba Amara Organic Foods (“Amara”), pursuant to which Eat Well purchased a 51% equity stake in Amara in exchange for a subscription price of USD$11.6 million consisting of (i) USD$1 million cash and (ii) a USD$10.6 million promissory note to be repaid in equal quarterly payments over a period of 24 months.

In connection with the initial investment, Eat Well also obtained an option to acquire an additional 29% of Amara from current shareholders of Amara for an aggregate cash purchase price of USD$29 million, which option may be exercised upon repayment of the promissory note.

Eat Well is a publicly-traded company primarily focused on the agribusiness, food tech, plant-based and ESG (environmental, social and governance) sectors. Eat Well’s management team has an extensive record of sourcing, financing and building successful companies across a broad range of industries and maintains a current focus on the health / wellness industry.

McMillan acted as counsel to Eat Well, providing cross-border and corporate expertise, on this transaction to achieve a successful outcome for our client. Paul Barbeau and Jason Haley led the team with support from Cody Foggin.

McMillan’s Capital Markets & Securities and Corporate Finance Groups lead clients to achieve their business objectives and reach the destination they set for themselves. Our legal teams are skilled at structuring and closing complex transactions and providing innovative advice and solutions. Our understanding of the law, combined to our relationships with regulatory bodies and exchanges, help us deliver unmatched value for our Canadian, US and international clients.