Rapid Nutrition PLC: Rapid Nutrition attracts USD 1 million investment with Swiss company Nice & Green to fund its growth strategy
EQS Group-News: Rapid Nutrition PLC
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Rapid Nutrition attracts USD 1 million investment with Swiss company Nice & Green to fund its growth strategy
Zurich, Switzerland -Rapid Nutrition ( RAP: SW, OTCQB: RPNRF ) a natural healthcare company focused on natural nutrition, diet management and life science products, today announced that it has entered into an agreement for the issuance and subscription of convertible notes, each with a 12-month conversion period with Nice & Green an independent Swiss investment company. The financing will be used to accelerate the company's growth strategy.
In consideration for the issuance of convertible notes Nice & Green has committed to invest USD 1 million in 4 tranches over a period of 24 months. The principal amount of each convertible note is, at Rapid Nutrition's discretion, either payable by way of conversion into ordinary shares of the company, or in cash. The conversion price is determined by a reference to the lowest daily volume weighted average price for a share on market during the 6 trading days immediately preceding the conversion.
"With an outstanding reputation for their innovative financing solutions, Nice & Green is the perfect financial partner for continuing to grow our reach and brand globally," said Executive Director and CEO Simon St. Ledger. "As more people focus on enhancing health, wellness and immunity this year, having access to a flexible financing solution at a reasonable costs will provide a strong foundation to grow our global presence and product offering with premium science-based, wellness brands."
The convertible notes facility will be used to finance the company's accelerated growth strategy and may be drawn in tranches at the company's discretion in order to capitalise on opportunities to continue to scale its business in key markets.
"We have been watching Rapid Nutrition's development for some time now and are proud to partner with Rapid Nutrition via subscription of Convertible notes to support their growth strategy. We believe Rapid Nutrition is well positioned in a rapidly growing sector. We look forward supporting Rapid Nutrition with regular tranches Nice & Green commits to buy," says CEO Marc Cattelani.
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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).
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