Subjects: CHI, ACC, VEN
A-Labs Closes a CAD 7.5 million Round of Finance for ELSE Nutrition on the Toronto Stock Exchange Ventures
TEL-AVIV, Israel, June 26, 2019 /CNW/ -- A-Labs Advisory & Finance Ltd. ("A-Labs") announce today the successful closing of the round of finance in collaboration with Canaccord Genuity Inc. for ELSE Nutrition Holdings Inc. ("ELSE Nutrition" or the "Company"). The transaction was performed via an RTO (Reverse Take Over) into a capital pool company CPC (formerly ASB Capital Inc.) traded on the Toronto Stock Exchange ventures ("TSXv") in Canada.
The Company has developed a novel plant-based baby food formula as an alternative to dairy based products that take up the vast majority of the $83 billion-dollar global market.
The Israeli company (https://www.elseformula.com) and its founders were well received by the Canadian investment community and the offering was 100% oversubscribed and ended raising 25% above the original requested financing. Aftermarket performance was positive with a 176% rise on the first day of trading and additional 8.70% rise on the second day completing a total of 250% increase in share price from the issue day on June 18th.
Doron Cohen, A-Labs Managing Partner & CEO said: "The ELSE team is exactly what we are looking for in companies. Rare level of innovation and expertise with strong experience and execution skills - this is what winning companies are made of and the Canadian market has reacted accordingly. The TSXv is a great market for companies like ELSE and we thank their management and Yossi Boker, the TSX representative in Israel, for supporting us and the Company in this process."
The Company leadership team is comprised out of industry and business veterans unified by the vision of changing the baby food industry and liberate it from its dependency on cow milk products.
Hamutal Yitzhak, ELSE Co-Founder & CEO said: "A-Labs have gone a very long way with us promoting our dreams and vision and were incredible in supporting all company operations until we successfully completed the RTO in Canada. It felt as they were a live extension of our management team and not external advisors. We are happy to have them supporting us for the long run."
Company's executive management and founders: | |
Hamutal Yitzhak | CEO, Director and Chairwoman |
Uriel Kesler | COO and Director |
Michael Azar | CTO |
Reuben Halevi | VP Sales Operations |
Shay Shamir | CFO and Corporate Secretary |
About A-Labs Advisory & Finance Ltd.
A-Labs is a private corporate advisory and finance firm helping on medium to large size companies to grow, manage their business and raise significant capital mainly through private and public vehicles (IPOs, RTOs, RCOs).
For further information, please contact:
Doron Cohen, Managing Partner & CEO
Email: [email protected]
About Else Nutrition Holdings Inc.
The Company is a food and nutrition company focused on research, development, manufacturing, marketing, sale and/or license of innovative plant-based food and nutrition products to the infant, toddler, children and adult markets.
For further information, please contact:
Hamutal Yitzhak, CEO of Else Nutrition
Email: [email protected]
Sokhie Puar, Director of Else Nutrition
Email: [email protected]
SOURCE A-Labs Advisory & Finance Ltd.
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